That's because their work has so much value and they get paid none of it. EDIT: That's what Henry George said. The reason San Francisco land has so much valu

That's because their work has so much value and they get paid none of it. EDIT: That's what Henry George said. The reason San Francisco land has so much value and the land in an undeveloped part of California has nearly none is the development, meaning the work of developing it, what human hands do to the land to transform it, the construction. You can sprinkle gold on it and nothing, put a bulldozer there (capital) and nothing, send an entrepreneur or economist to look at it and nothing. It's when people work that it becomes worth something.