Land and the policies that govern it hold an incredible but largely forgotten power over our lives. When land is wasted and squandered, we get sky-high rents, oppressed workers, ruined businesses, depleted natural resources, a polluted earth, and an impoverished society. Poor land policy is the chief culprit behind sky-high urban rents, homelessness, and endless suburban sprawl. Meanwhile, real estate has become the world’s number one asset class, comprising an ever-growing share of bank loans worldwide. Land is a Big Deal draws on the insights of legendary American economist Henry George to explain how things got this way, as well as what we can do to fix it.
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Noah Smith is an economist and former Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and blogs at a site called Noahpinion.
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