We could assign zero dollar value to land and allocate it democratically based on utility to the public...
How is central allocation according to some metric actually democratic?
Just a reminder that land is a limited natural resource that does not have a monetary value assigned to it except by political choice.
Land's value is nominally derived from the income it can generate. In the Wealth of Nations, Smith walks us through the connection between the price of farm land and the value of the crops that could be grown on it.
How is central allocation according to some metric actually democratic?
Just a reminder that land is a limited natural resource that does not have a monetary value assigned to it except by political choice.
Land's value is nominally derived from the income it can generate. In the Wealth of Nations, Smith walks us through the connection between the price of farm land and the value of the crops that could be grown on it.