> There are a lot of theoretical challenges with Georgism, and combined with the impossibility of stripping all existing landowners of their property, it's all

> There are a lot of theoretical challenges with Georgism, and combined with the impossibility of stripping all existing landowners of their property, it's all just a theoretical exercise. While the specific auction mechanism and expropriation of all land is obviously fantasy, substantiatively the same effect can be obtained with property taxes assessed based only on the value of the underlying land and updated frequently (land value tax), with the added benefit of avoiding the distortions of worrying that a lease will expire and someone will outbid you to seize the value of the capital you have invested in improving the property.