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Last Updated: 17 December 2020

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To send this Chapter to your Kindle, first ensure no-reply cambridge. Org is added to Your Approved Personal Document E-mail List under Your Personal Document Settings on Manage Your Content and Devices page of Your Amazon account. Then enter the name part of your Kindle email address below. Find out more about sending your Kindle. Note you can select to send to either free. Kindle. Com or Kindle. Com variations. Free. Kindle. Com emails are free but can only be sent to your device when it is connected to wi-fi. Kindle. Com emails can be delivered even when you are not connected to wi-fi, But note that service fees apply. Find out more about the Kindle Personal Document Service. Necessity, it is say, is the mother of invention. 1 This wonderful volume studies innovation in housing policy. This Chapter asks why we need innovation in our housing policy, or rather what is changing to make our current housing policy inappropriate, to the extent that it makes sense in the first place. I argue that changing transportation technologies have created opportunities for economic growth, but that Land Use regulations and other housing policies reduce gains from these technological improvements. In order to capture gains from new transportation technologies, and to help reverse slow economic growth we have seen in the United States in most of period since 1970, we need housing policies that match our current transportation system. In discussions of the American economy, transportation industry and transportation innovation play a central role. Politicians regularly point to the health of the transportation industry as an indicator of economic broader well-being. Think of Charles Wilsons ' famous quote that what is good for General Motors is good for the United States. Or of President Obama's argument that, as result of the federal bailout, auto industry is now leading the way toward the type of economic growth that benefits middle-class Americans. Similarly, scholars attempting to project economic growth often focus on transportation innovation. Techno-optimists like Erik Brynjolfsson and Andrew McAfee point to innovations like Self-Driving Cars and drones and predict rates of growth on par with the Industrial Revolution. Skeptics like Robert Gordon argue that growth has been slow since 1970 and will continue to be so based on their assessment of likely effects of same technologies. But transportation innovation does not create economic growth in the same way as innovation in other sectors. 2 For the most part, people do not directly consume benefits of innovative transportation technology, nor is its direct use a major factor in determining whether businesses can produce goods more cheaply or more efficiently. Most of the benefits of transportation innovation do not come from faster and easier travel to existing homes, offices, and businesses. Instead, transportation innovations allow the US to move our homes, offices, factories, and stores into more pleasing and efficient patterns.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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