I think the parallel to draw here is inflation. The Fed sets interest rates low to encourage people to invest or spend their dollars instead of sitting on them. If you have cash in a savings account it loses about 3% of its value year over year.
I see land-value tax as the same economic mechanism applied to vacant lots. There should be some penalty to sitting on land and simply watching its value accrue. Why aren't we treating the land crisis like a deflationary spiral currency crisis?
I see land-value tax as the same economic mechanism applied to vacant lots. There should be some penalty to sitting on land and simply watching its value accrue. Why aren't we treating the land crisis like a deflationary spiral currency crisis?