Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? These are the questions addressed in an excellent and highly accessible new book by Josh Ryan-Collins, Toby Lloyd and Laurie Macfarlane. Rethinking the Economics of Land and Housing explains clearly that the key challenges facing modern economies – including housing crises, financial instability and growing inequalities – are intimately tied to the land economy.
These ideas are at the heart of the Georgist paradigm. Watch an excellent discussion about the book between Ross Ashcroft, Josh Ryan-Collins and Laurie Macfarlane on RT here: