this post was submitted on 22 Apr 2024
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A Boring Dystopia
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A tax on land is a tax on capital. Land has been capital longer than the concept of capital has existed.
It's not, though. The classical factors of production, whence we get the concept of "capital" as a factor of production, has land and capital as clearly separate:
https://en.m.wikipedia.org/wiki/Factors_of_production
And it's an important distinction. The fact that land is not made and inherently finite makes it zero-sum. Meanwhile, the fact that capital such as education, tools, factories, infrastructure, etc. are man-made and not inherently finite makes them not zero-sum. This distinction has truly massive implications when it comes to economics and policymaking. It's the whole reason LVT is so effective, so efficient, and so fair: it exploits the unique zero-sum nature of land.
It seems you're using a more technical definition than I was. I was thinking something along the lines of definition 1a(3) in this dictionary entry. I agree there are important differences between land and other money-making assets.