Comment on So many expensive homes
VelociCatTurd@lemmy.world 10 months agoActually, I’ve never thought about it, but the concept of “owning” land is pretty absurd tbh. There are people born everyday, beholden to imaginary lines drawn by dead fuckers hundreds or thousands of years ago.
maporita@unilem.org 10 months ago
Abolishing land ownership sounds like an attractive idea, the problem is that it doesn’t work well in practice. Ownership of land, and a legal system to protect it, brings remarkable economic benefits. It allows owners to raise capital using the land as collateral and then to develop the land. A free market ensures that land is correctly valued. When values are as by government they tend to be incorrect or, worse, deliberately distorted by corruption. A quick look around the world shows that the richest countries all allow private ownership of land. China is the notable exception. It’s true that productivity in China has increased dramatically over the past few decades but this has been driven by urban centers and manufacturing… rural areas, where land remains under state control remain poor and impoverished.