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|English to Malay translations [Non-PRO]|
Social Sciences - Manufacturing
|English term or phrase: insurmountable,deprivation,epitomize,intervation,consumption, benefical,|
|Planning and the Market|
In the absence of town planning, land would be opportioned between competing uses by the price mechanism and the interaction of demand and supply.In this free-market situation, land would be used for the purpose that could extract the largest net return over foreseeable period of time, but experience has shown that, unfettered, the market can consume resourses in an ill conceived and short-sighted way, creating almost insurmountable problems for generations to come.Moreover the competition engendered in the private sector, where laissez-faire conditions previls, can all too often breed waste. The private sector developer seeking to maximize his personal profit often neglects the provision of both social services and public utilities. The veery need for planning arose out of the inequality,deprivation and squalor caused by the interplay of free-market forces and lack of social concern prevalent during the nineteenth centry. Furthermore, unplanned, these forces combine to produce the fluctuating booms and slumps the epitomize private sector instability.
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