Austrian Urban Economics

I just now got time the chance to read the post series "Cities and the Market Process 1, 2 and 3" that Leo have suggested two months ago.

Critics of free market urban development may argue that this system will produce less-than-perfect cities, so city planners should step in to make improvements. The Austrian response is that of course the free market cannot produce utopian cities, but no other system could do better. Believing that a regulated city would be superior to the market outcome is succumbing to the Nirvana fallacy. Markets aren’t perfect, but they’re the best we’ve got.

I'm not fully convinced at all, although the post series have made some good points. Market Urbanism has just got on my blogroll! 

soundtrack: Ali Farka Toure