> Markets build in response to incentives. Most American production choices are determined by markets, including the choices of investors allocating capital.
This leaves out the most important problem though: regulatory capture and bureaucratic gridlock. Markets would love to build more housing. But they're prevented from doing so by the regulatory state. Markets would love to build nuclear power plants, but they're prevented from doing so by the regulatory state.
Which ultimately comes back to the democratic question of will. We need to elect people who will alter the regulatory state to make way for these things.
This leaves out the most important problem though: regulatory capture and bureaucratic gridlock. Markets would love to build more housing. But they're prevented from doing so by the regulatory state. Markets would love to build nuclear power plants, but they're prevented from doing so by the regulatory state.
Which ultimately comes back to the democratic question of will. We need to elect people who will alter the regulatory state to make way for these things.