3 ms·
Posner and Weyl show in Radical Markets that land cannot be put to optimal use without perpetual auctions where buyers compete to pay the most tax. It’s essenti
by ipnon 3y ago
Posner and Weyl show in Radical Markets that land cannot be put to optimal use without perpetual auctions where buyers compete to pay the most tax. It’s essentially Georgism. Exploitation of the commercial real estate arises from strong private property rights that are useful in themselves but have clear (and for working class San Franciscans expensive) externalities.
- bequanna 3y agoThis sounds like a cute academic thought experiment, but in reality is just another way to feed the beast of government. Yet more resources pissed away on armies of inefficient bureaucrats. There is no shortage of land or desire for development. The problem is and always has been NIMBY regulation. We don’t need any more help from the government to get more housing, we need them to get out of the way.
- aeternum 3y agoSeems ripe for abuse, a well-funded business could simply bid up a competitor's tax.