The government wants 3m houses built by 2020. Economic theory tells us their locations matter for living standards. Economics cannot tell us the optimal locations, but does show that houses are usually socially more valuable in high land-price areas, because additional workers are more...

This paper argues that transport is more cart than horse, in that transport improvements are not the most important driver of economic growth for most countries. Nevertheless there are circumstances in which transport is particularly important. Big transport breakthroughs - such as replacing...