Article
Market-hampering Land Speculation: Fiscal and Monetary Origins and Remedies.
American Journal of Economics and Sociology
(1998)
Abstract
Abstract Market‐hampering land speculation destabilizes and distorts development, and shifts income unjustly to landowners. Its fiscal origin is the lack of public collection of the site rent. The monetary origin is a centrally controlled money supply that injects excessive credit, fueling malinvestments in real estate. The remedies are both the public collection of land rent and a free market in money and banking, hence a money supply that responds flexibly to market demand while maintaining a stable unit of account. Rent collection option contracts could increase the scope of market‐enhancing land speculation that spreads and reduces risk.
Disciplines
Publication Date
October, 1998
DOI
10.1111/j.1536-7150.1998.tb03382.x
Publisher Statement
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Citation Information
Fred E Foldvary. "Market-hampering Land Speculation: Fiscal and Monetary Origins and Remedies." American Journal of Economics and Sociology Vol. 57 Iss. 4 (1998) ISSN: 1536-7150 Available at: http://works.bepress.com/fred_foldvary/31/