A touching (or creepy) faith in the power and efficacy top-down regulation is now in vogue. Wendell Cox just posted this summary of urban settlement trends in some of the major European cities. This is not the way it was supposed to turn out. Commanding the tides is hard work and so is ignoring people's preferences.
So the worst of both worlds is that the rosy dreams of the regulators are never realized, but the costs that they impose are borne nevertheless.