They paved paradise and put up a parking lot because our economic system incentives people to leave land vacant and let it accumulate value without out giving anything back
People can and will hold onto vast amounts of land and refuse to sell till the price gets high enough, this hoarding of land leads to a worsening of developer capitalism as only the most wealthy can afford to buy land off these hoarders and our cities suffer for it because they are either left hollow and empty or are under the control of an incredibly small powerful minority with the funds to shape the form of our cities
Anyways, check out this crazy idea
Maybe, I think taxes beyond a Land Value Tax are necessary and I still want to read his book before making a judgment on the whole thing
