The demand for urban land is growing, yet the supply is both genuinely and artificially limited. This situation radically increases land costs and in turn consumes scarce investment capital which could be better used elsewhere. It also irrationally distorts patterns of urban growth and development. This latter fact leads directly to a third round of undesirable consequences; as the urban infrastructure becomes more costly and inefficient, and institutions and facilities fail to provide adequate services to their populations, urban social and economic imbalances and injustices are intensified, the quality of the total urban environment erodes and it becomes difficult to harmonize man's activities with the components of the natural environment. Thus pollution, noise and other hazards all increase. The issue now is no longer the economic value of the land as determined by market processes, but the social value as determined by the goals and needs of urban society.