If I want oil, I can go find some and drill for it anywhere that makes fiscal sense. If I want clay, I can go find a riverbed and start digging. If I want the

If I want oil, I can go find some and drill for it anywhere that makes fiscal sense. If I want clay, I can go find a riverbed and start digging. If I want the corner of Fourth and Chester for commercial traffic, my options are a bit more limited. The problem with land is not about its scarcity, its about its situational utility. The value of land is often completely out of control of the property owner themself, and you cannot create new city centers or in-demand residential neighborhoods in private enterprise.