Urban studies are a multi -faceted learning of metropolis environments, including but not limited to their outlying areas. The tools of sociology and economic theories, hypothetical questions stir the search for the genesis, growth and influences of establishments. The relevance of urban studies is its straightforward application to what obtains outside centers of studies. Knowledge derived from these studies is crucial in influencing the social and economic dynamics of metropolitan areas.
Why the Market System is unable to adequately
Determine Allocation of Resources across the Metropolitan Region
A market system that is functioning without artificial distortions allocates resources ...view middle of the document...
Additionally, when labor, private enterprise and capital cannot move unhindered to various parts of the economy there is inefficiency in production, which causes joblessness. All these factors cause market unfairness because they produce skewed distribution of income. The situation allocates resources into a few hands to the disadvantage of the society.
This does not necessarily mean the failure of capitalism as a function of production. It actually means the distortions referred to are manmade interferences with the market forces. The implications of market failure are that citizens miss -out on economic and social development.
The Rationale for Public
Intervention in Urban Planning and Metropolitan Development
The justification for public intervention in urban planning and metropolitan development is to supplement government efforts in providing goods and services. It is the issue of the public working together with the private sector in development partnership. The public sector gains from the competence in production, industrial and marketing skills of the private sector whereas the public sector comes with its attributes of accountability and righteousness. The resources that the governments can set aside for urban planning and metropolitan development cannot be enough for these tasks. The public and private sectors can amass requisite resources to augment those of the government. The private sector specifically, and the public sector to a lesser extent are experts in the production, management and deployment of resources for greater good of the society. The government though needs to regulate practices that infringe on certain laws of good conduct in...