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Owning land. It adds no value; it is the only "thing" that is a fixed, limited quantity. (I'm not making a moral or value comment.) There is a branch of econ
by Nick_C 16y ago
Owning land. It adds no value; it is the only "thing" that is a fixed, limited quantity. (I'm not making a moral or value comment.)
There is a branch of economic theory that says all taxes should be on land ownership.
- grandalf 16y agoOn the other hand, those who own land develop it, increasing the value of nearby land, providing employment, extracting natural resources, etc... It's sort of a chicken/egg problem. Heritability of land ownership does lead to entrenched wealth with little incentive (or need) to further develop the land, but one could argue that many sorts of investments also fit the criterion of sometimes providing long term returns far in excess of what the original purchaser could have imagined or intended.