What he's saying is that artificial restrictions on land supply will lead, well, to less supply. Inevitably, the less supply of land available the higher the prices.
By unearned increment what is meant is the tendency for land prices to increase in market value without the owner contributing to that increase in price.
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Date: 2006-07-25 06:14 am (UTC)What he's saying is that artificial restrictions on land supply will lead, well, to less supply. Inevitably, the less supply of land available the higher the prices.
By unearned increment what is meant is the tendency for land prices to increase in market value without the owner contributing to that increase in price.