One of the most important tasks confronting planners is how they will integrate market-oriented thinking into planning theory and procedures. Planning should not rely on end-state planning and static prescriptions to direct land-use and property development.
The lessons of the last 50 years -- the decades of suburbanization and decentralization -- are that land-use planning operates within a broader market framework. Integrating market-oriented thinking into planning theory and practice will require substantive changes to the way planners view the process of land development. It also may require changing their view of the regulatory role of local government in the urban development process.
Acknowledgements: The authors would like to thank Randy Simmons, Randall Holcombe and two anonymous referees for comments and suggestions. The authors remain solely responsible for the content.