Policy Innovations for Affordable Housing In Singapore From Colony t
“This book tells how public authorities in Singapore designed and adapted policies for allocating land, capital, and labor in order to create good places for Singapore citizens and residents to live and work, setting the infrastructure for people in Singa
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Sock-Yong Phang
Palgrave Advances in Regional and Urban Economics
Palgrave Advances in Regional and Urban Economics
Sock-Yong Phang
Policy Innovations for Affordable Housing In Singapore From Colony to Global City
Sock-Yong Phang School of Economics Singapore Management University Singapore, Singapore
Palgrave Advances in Regional and Urban Economics ISBN 978-3-319-75348-5 ISBN 978-3-319-75349-2 (eBook) https://doi.org/10.1007/978-3-319-75349-2 Library of Congress Control Number: 2018935537 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: Ivan Nesterov / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by the registered company Springer International Publishing AG part of Springer Nature. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
For my husband Andrew and our daughters Rachel and Christine
Foreword
An ancient Chinese proverb asserts that while a government has strategies, citizens have counterstrategies. Those words concisely frame the challenge society faces in choosing from among the range of possible government policy regimes. In a market economy, equilibrium prices and quantities as well as the distributions of wealth and income that they generate depend on a government’s tax and regulatory policies. The challenge is to choose a policy regime that produces equilibrium prices and quantities that maximize an accepted measure of social welfare. Designing policy well requires a good understanding of how citizens’ counterstrategies depend on government strategies: it requires an economic theory that works. This book tells how public authorities in Singapore designed and adapted policies for allocating land, capital, and labor in order to create good places for Singapore cit
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