“• The COAG Reform Council cities policy lists over 20 objectives for cities policy, including “social inclusion” and promoting “iconic” public architecture but efficiency is not among them.
• Indeed, it is clear from the documents that the Council has no idea what efficiency means in the context of urban land use or how it should be measured.
• Yet our major cities account for some 70 percent of the nation’s public infrastructure and an even higher share of its aggregate capital stock
• The efficiency with which we use urban resources, and first and foremost urban land, is consequently crucial to overall productivity levels Land is a resource like any other; the goal of policy should be to ensure it is allocated to its most productive uses, which implies maximising its
You can download the full document from the Melbourne Institute’s website here
Henry is the inaugural Professor of Infrastructure Economics at SMART where his focus is on the economic, regulatory and public policy research program. He takes a special interest in the development and application of cost-benefit analysis and in the analysis of pricing and investment decisions in regulated infrastructure industries. Professor Ergas is also a regular columnist in The Australian and Senior Economic Adviser at Deloitte Access Economics.
He will be a keynote speaker at the 6th International Urban Design Conference – Novotel Sydney Olympic Park, Monday the 9th to Wednesday 11th of September 2013.