I would extend that argument even further. Not only is it morally justified to capture the value, its also the only means by which the private ownership can be

I would extend that argument even further. Not only is it morally justified to capture the value, its also the only means by which the private ownership can be justified at all. It is, after all, our rule of law and common institutions that will enforce the title to begin with. From a position of Rawls veil of ignorance, I don’t see how you could justify land title being granted on first come first served basis. Leased to the highest bidder (with a public dividend) seems much more agreeable.