Liberal Vision

Public policy failure

Lord Bob Kerslake, the author of a report in housing in London, has said that the failure to build enough homes “has been the biggest public policy failure of the past 50 years”. It is refreshing to hear someone admit that public policy can fail. Normally, commentators and policymakers talk about market failure. This is normally a cue to proposal State intervention. Lord Kerslake appears to be thinking along these lines, which is a shame. It would be better to admit that public policy has failed and that it is time to let the market function properly.