How? Nearly every country in the world is affected by poverty and unemployment; widening divisions between rich and poor; boom-slump cycles; housing shortages; inadequate infrastructure; and damage to the environment. These economic ills persist, seemingly intractably, despite unprecedented developments in science and technology. All of them are ultimately related to the different economic behaviour of 'land' in contrast to man-made consumer and capital goods, whose supply can be, and normally is, varied and transported in response to demand.
Land is otherwise. No more can
be made: each plot of land is unique and immovable. Its total
supply is fixed. Consequently, the market in land behaves differently
from the market in products. Land value comes from the natural and man-made
advantages of location, which derive from the presence and
activities of the community as a whole.
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