Build, Baby, Build: Housing Regulation's Science and Ethics

In this exciting new graphic novel, economist Bryan Caplan examines how changes to housing regulation can lead us to a vastly better world. Combining stunning homage to classic animation with careful interdisciplinary research, Build, Baby, Build takes readers on a grand tour of a bona fide "panacea policy."

The superficial answer to why housing prices in America are so unbelievably high, especially in the country's most desirable locations, is "supply and demand." However, the deep answer―the reason supply is so low―is a regulatory system that treats developers like criminals. In Build, Baby, Build: The Science and Ethics of Housing Regulation, economist Bryan Caplan makes the economic and philosophical case for radical deregulation of this massive market―freeing property owners to build as tall and dense as they wish.

Not only would the average price of housing be cut in half, but the building boom unleashed by deregulation would simultaneously reduce inequality, increase social mobility, promote economic growth, reduce homelessness, increase birth rates, help the environment, and cut crime. We can start realizing these missed opportunities as soon as we abandon the widespread misconception that housing regulation solves more problems than it causes.

The book presents a compelling argument that by liberating property owners to build freely, we can create a vastly better world. The average price of housing would plummet, making homes accessible to millions more people. This, in turn, would reduce inequality and increase social mobility, as more individuals and families could afford to live in desirable urban areas with access to better job opportunities and educational resources.

Moreover, the building boom would stimulate economic growth, create more jobs, and generate additional tax revenue that could be invested in public services and infrastructure. Homelessness would decline as more people could afford stable housing, and higher birth rates might be observed as the financial barriers to starting a family are reduced.

Environmental benefits would also arise, as denser, more efficient urban development would reduce the pressure to sprawl outward and consume more land and resources. Additionally, the increased availability of housing and reduction in housing costs could potentially contribute to lower crime rates, as stable housing and stronger communities are known to be associated with reduced criminal activity.

In essence, Build, Baby, Build presents a compelling vision of a future where housing regulation is significantly relaxed, unleashing a wave of construction that delivers a multitude of societal benefits. By abandoning the misguided notion that housing regulation is a solution, we can embrace a more prosperous and equitable future for all.

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