Who Captures the Savings: Zoning Windfalls vs. Import Margins
When Israel grants a developer extra building rights through pinui binui, the project's profit is appraised and capped — the state knows it just handed over value created by a planning decision. When the government cuts tariffs, reforms standards, opens parallel imports, or introduces port competition, the importer's landed cost drops and nobody asks where the savings went. This episode compares the two regulatory worlds: how pass-through works, why it's a behavior rather than a law of physics, and why the state's legal theory of what it's doing — granting a benefit versus getting out of the…
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