Land and wealth
Land values are real capital – genuine wealth. Actually, no.
These articles by Mark Wadsworth demolish some common misconceptions about land, which currently bedevil discussion on the subject. They have surfaced yet again in the wake of Piketty’s new book.
• Land is just capital like any other kind of capital (link to article)
• House prices will plummet and wealth will be destroyed (link to article)
• House prices will plummet and millions will be trapped in negative equity (link to article)
• House prices will plummet and banks will go bankrupt
(link to article)
• “Banks pay lots of tax. Without them, the country will go bankrupt” (link to article)
• House prices will plummet and the tax base will disappear (link to article)