The image is
of shaking coins from the piggy banks of our children and grandchildren and
using them to support our current land-use model, without a credible plan for
returning the coins.
Many of the development
patterns of our time involve inter-generational fund transfers.
Approving
drivable suburban subdivisions to secure the impact fees even though the
incremental property tax revenues won’t cover long-term maintenance costs? That’s borrowing from the future.
Building
big-box shopping centers for the immediate sales tax revenues even though the
likelihood is that the centers will soon lose their lustre and become financial
drains as new centers are built elsewhere?
That’s borrowing from the future.
Accepting
funds from the state or federal governments to build infrastructure for the
short-term employment boost even though funds are unlikely to be available for
maintenance? That’s borrowing from the
future.
The pattern is
overwhelmingly obvious. Over the past
seventy years, we’ve evolved a complex system of securing current benefits
while leaving many of the costs to be borne at a later time, a time when many
of us will have left the stage.
I’m not an anti-usury
nut. I know that the lending and
borrowing of funds is essential for the functioning of a successful economy. But lending and borrowing needs the informed
consent of both parties. Borrowing from
children and grandchildren still in the crib, or as yet unborn, is weird. And a bit creepy.
One could
argue that our parents and grandparents began this pattern, so our generation
is paying some of their costs, entitling us to push costs into the future. But that’s a weak rationalization.
For one, the
earlier generations didn’t realize the extent to which the drivable suburban
experiment would fail. Perhaps they
should have noted as early as the late 1970s that something was amiss, but it’s truly taken
nearly all of seven decades for the full extent of failure to become
evident. And we can’t blame folks for
not fixing something they didn’t know was broken.
For another,
it’s not as if we’ve begun turning away from the failed experiment. Indeed, we often seem to become more frenzied
in our efforts to place bets on the losing proposition of drivable suburbia.
No, there is
no exoneration for our sins. Perhaps we
can’t be expected to immediately make good on all the failed wagers of the
past, but we should at least begin making amends, which we’re not doing.
One of our
worst shortfalls is on land-use compromises.
Presented with a land-use proposal that has too little density to be
financially sustainable, the frequent result of our land-use process is
to further reduce the density, making it more unsustainable. Adults, unable to reach reasonable and
defensible compromises, are pilfering coins from piggy banks to make
deals. We should be ashamed of
ourselves.
Once again,
I haven’t said anything here that StrongTowns
hasn’t said often and better. But perhaps the imagery of slipping into the
bedrooms of sleeping children to snatch coins from their piggy banks to feed
our land-use addiction will turn a few more minds toward urbanism. At least I hope so.
As always,
your questions or comments will be appreciated.
Please comment below or email me.
And thanks for reading. - Dave Alden (davealden53@comcast.net)
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