Buy land – they’re not making it any more

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Green Economics: An Introduction to Theory, Policy and Practice by Molly Scott Cato

Albert Einstein, back-to-the-land, banking crisis, banks create money, basic income, Bretton Woods, Buy land – they’re not making it any more, carbon footprint, central bank independence, clean water, Community Supported Agriculture, congestion charging, corporate social responsibility, David Ricardo: comparative advantage, deskilling, energy security, food miles, Food sovereignty, Fractional reserve banking, full employment, gender pay gap, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), job satisfaction, land reform, land value tax, Mahatma Gandhi, market fundamentalism, Money creation, mortgage debt, passive income, peak oil, price stability, profit maximization, profit motive, purchasing power parity, race to the bottom, reserve currency, the built environment, The Spirit Level, Tobin tax, University of East Anglia, wikimedia commons

Kunzli (2004) ‘Air pollution attributable postneonatal infant mortality in U.S. metropolitan areas: A risk assessment study’, Environmental Health, 3: 4. 32 S. Cox (2008) Sick Planet: Corporate Food and Medicine, London: Pluto. 33 I. Illich (1975) Medical Nemesis: The Expropriation of Health, London: Calder and Boyars. 34 Barry and Doherty, ‘The greens’, p. 600. 12 Land and the Built Environment Buy land: they’re not making it any more Mark Twain As discussed in Chapter 3, within the green economics perspective land is a vital part of human and community identity. The view of the land is quite distinct from the reductionist conception of a ‘factor of production’ held by classical and neoclassical economists. For many green economists, the breakdown of our relationship with the natural world, what Mellor (2006) refers to as ‘disembedding’, is the fundamental source of the ecological crisis.1 The bulk of this chapter is concerned with policies favoured by greens to manage land.


pages: 457 words: 125,329

Value of Everything: An Antidote to Chaos The by Mariana Mazzucato

"Robert Solow", activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, Airbnb, bank run, banks create money, Basel III, Berlin Wall, Big bang: deregulation of the City of London, bonus culture, Bretton Woods, business cycle, butterfly effect, buy and hold, Buy land – they’re not making it any more, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, carried interest, cleantech, Corn Laws, corporate governance, corporate social responsibility, creative destruction, Credit Default Swap, David Ricardo: comparative advantage, debt deflation, European colonialism, fear of failure, financial deregulation, financial innovation, Financial Instability Hypothesis, financial intermediation, financial repression, full employment, G4S, George Akerlof, Google Hangouts, Growth in a Time of Debt, high net worth, Hyman Minsky, income inequality, independent contractor, index fund, informal economy, interest rate derivative, Internet of things, invisible hand, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, knowledge economy, labour market flexibility, laissez-faire capitalism, light touch regulation, liquidity trap, London Interbank Offered Rate, margin call, Mark Zuckerberg, market bubble, means of production, Money creation, money market fund, negative equity, Network effects, new economy, Northern Rock, obamacare, offshore financial centre, Pareto efficiency, patent troll, Paul Samuelson, peer-to-peer lending, Peter Thiel, Post-Keynesian economics, profit maximization, quantitative easing, quantitative trading / quantitative finance, QWERTY keyboard, rent control, rent-seeking, Sand Hill Road, shareholder value, sharing economy, short selling, Silicon Valley, Simon Kuznets, smart meter, Social Responsibility of Business Is to Increase Its Profits, software patent, stem cell, Steve Jobs, The Great Moderation, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Tobin tax, too big to fail, trade route, transaction costs, two and twenty, two-sided market, very high income, Vilfredo Pareto, wealth creators, Works Progress Administration, you are the product, zero-sum game

Production in agriculture depends on two types of input: goods and services needed for production. One type can be scaled - increased in proportion to requirements. It includes labour, machinery, seeds and water. The other type cannot be scaled: good arable land. As Mark Twain is supposed to have said, ‘Buy land, they're not making it any more.' Since the population will grow thanks to investment and rising wages, and more and more food will need to be produced to feed everyone, at some point all the best land for corn production will be spoken for. Less fertile or productive land will then be cultivated. However, since all the corn is sold at one price to the workers, who are on subsistence wages, the more productive land already in use yields a higher profit than the less productive land.


pages: 379 words: 114,807

The Land Grabbers: The New Fight Over Who Owns the Earth by Fred Pearce

activist lawyer, Asian financial crisis, banking crisis, big-box store, blood diamonds, British Empire, Buy land – they’re not making it any more, Cape to Cairo, carbon footprint, clean water, corporate raider, credit crunch, Deng Xiaoping, Elliott wave, en.wikipedia.org, energy security, farmers can use mobile phones to check market prices, Garrett Hardin, index fund, Jeff Bezos, Kickstarter, land reform, land tenure, Mahatma Gandhi, market fundamentalism, megacity, Mohammed Bouazizi, Nelson Mandela, Nikolai Kondratiev, offshore financial centre, out of africa, quantitative easing, race to the bottom, Ronald Reagan, smart cities, structural adjustment programs, too big to fail, Tragedy of the Commons, undersea cable, urban planning, urban sprawl, WikiLeaks

Zimbabwe: On the Fast Track Part 6: The Last Enclosure Chapter 24. Central Africa: Laws of the Jungle Chapter 25. Inner Niger Delta, Mali: West African Water Grab Chapter 26. Badia, Jordan: On the Commons Chapter 27. London, England: Feeding the World Notes on Sources Index Introduction “Buy land. They’re not making it any more.” —Mark Twain Soaring grain prices and fears about future food supplies are triggering a global land grab. Gulf sheikhs, Chinese state corporations, Wall Street speculators, Russian oligarchs, Indian microchip billionaires, doomsday fatalists, Midwestern missionaries, and City of London hedge-fund slickers are scouring the globe for cheap land to feed their people, their bottom lines, or their consciences.


pages: 614 words: 168,545

Rentier Capitalism: Who Owns the Economy, and Who Pays for It? by Brett Christophers

accounting loophole / creative accounting, Airbnb, Amazon Web Services, barriers to entry, Big bang: deregulation of the City of London, Boris Johnson, Bretton Woods, British Empire, business process, business process outsourcing, Buy land – they’re not making it any more, call centre, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, cloud computing, collective bargaining, congestion charging, corporate governance, David Graeber, deindustrialization, Diane Coyle, disintermediation, diversification, diversified portfolio, Donald Trump, Downton Abbey, Etonian, European colonialism, financial deregulation, financial innovation, financial intermediation, G4S, gig economy, Gini coefficient, Goldman Sachs: Vampire Squid, greed is good, haute couture, high net worth, housing crisis, income inequality, independent contractor, intangible asset, Internet of things, Jeff Bezos, Joseph Schumpeter, Kickstarter, land reform, land value tax, light touch regulation, Lyft, manufacturing employment, market clearing, Martin Wolf, means of production, moral hazard, mortgage debt, Network effects, new economy, North Sea oil, offshore financial centre, oil shale / tar sands, oil shock, patent troll, pattern recognition, peak oil, Piper Alpha, precariat, price discrimination, price mechanism, profit maximization, quantitative easing, race to the bottom, rent control, rent-seeking, ride hailing / ride sharing, Right to Buy, risk free rate, Ronald Coase, sharing economy, short selling, Silicon Valley, software patent, surveillance capitalism, TaskRabbit, The Nature of the Firm, transaction costs, Uber for X, uber lyft, very high income, wage slave, wealth creators, winner-take-all economy, working-age population, yield curve, you are the product

This growth rate is more impressive still if one considers only the period since 1993, since real prices in that year were exactly the same as they had been in 1980. The fivefold increase in real land prices occurring in the quarter-century beginning in 1993 translates into a CAGR of 7.0 per cent – which is nothing short of extraordinary. Figure 7.4 UK real land price index, 1980–2017 ‘Buy land; they’re not making any more of it’, in the famous words variously attributed to the American humourists Will Rogers and Mark Twain. This injunction has arguably never been more judicious than in the UK since the early 1990s; and yet the British government has throughout this period acted in diametric opposition to this advice.


pages: 511 words: 151,359

The Asian Financial Crisis 1995–98: Birth of the Age of Debt by Russell Napier

Asian financial crisis, asset allocation, bank run, banking crisis, banks create money, Berlin Wall, Bretton Woods, business cycle, Buy land – they’re not making it any more, capital controls, central bank independence, colonial rule, corporate governance, Covid-19, COVID-19, creative destruction, credit crunch, crony capitalism, currency manipulation / currency intervention, currency peg, debt deflation, Deng Xiaoping, desegregation, discounted cash flows, diversification, Donald Trump, financial innovation, floating exchange rates, Fractional reserve banking, full employment, hindsight bias, Hyman Minsky, If something cannot go on forever, it will stop - Herbert Stein's Law, if you build it, they will come, impact investing, inflation targeting, interest rate swap, invisible hand, Jeff Bezos, Kickstarter, laissez-faire capitalism, lateral thinking, Long Term Capital Management, market bubble, mass immigration, means of production, Mexican peso crisis / tequila crisis, Money creation, moral hazard, Myron Scholes, negative equity, offshore financial centre, open borders, open economy, Pearl River Delta, price mechanism, profit motive, quantitative easing, Ralph Waldo Emerson, regulatory arbitrage, rent-seeking, reserve currency, risk free rate, risk-adjusted returns, Ronald Reagan, Savings and loan crisis, savings glut, Scramble for Africa, short selling, South China Sea, The Wealth of Nations by Adam Smith, too big to fail, yield curve

A Scottish colleague, a former officer in the Hong Kong police force, leaned across the table and assured me that he was indeed the real deal. He knew this because in his former profession he had been assigned as a surveillance officer to follow him. Claret: shrinking supply, rising demand 8 May 1996, Regional Mark Twain once famously remarked, “Buy Land – they’re not making any more.” Twain was wrong. Within a few years, the Flatiron building was completed on an ‘unbuildable’ site in New York and the Back Bay in Boston was reclaimed. Twain’s attempt to identify an asset class offering fixed supply and rising demand was wide of the mark (although he has since been proved correct in remarking that golf ruins a good walk).


pages: 305 words: 73,935

The Cohousing Handbook: Building a Place for Community by Chris Scotthanson, Kelly Scotthanson

Buy land – they’re not making it any more, card file, index card, off grid, the built environment, urban planning, urban sprawl


pages: 519 words: 136,708

Vertical: The City From Satellites to Bunkers by Stephen Graham

1960s counterculture, Berlin Wall, Boris Johnson, Buckminster Fuller, Buy land – they’re not making it any more, Chelsea Manning, Commodity Super-Cycle, creative destruction, deindustrialization, digital map, drone strike, Edward Glaeser, Edward Snowden, energy security, Frank Gehry, ghettoisation, Google Earth, Gunnar Myrdal, high net worth, housing crisis, Howard Zinn, illegal immigration, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, late capitalism, low earth orbit, mass immigration, means of production, megacity, megastructure, moral panic, mutually assured destruction, new economy, New Urbanism, nuclear winter, oil shale / tar sands, planetary scale, Plutocrats, plutocrats, post-industrial society, Project Plowshare, rent control, Richard Florida, Right to Buy, Ronald Reagan, Skype, South China Sea, the built environment, The Death and Life of Great American Cities, trickle-down economics, urban decay, urban planning, urban renewal, urban sprawl, white flight, WikiLeaks, William Langewiesche

To sustain this situation, and to support the settlement of Tel Rumeida by groups of ultra-nationalistic and often violent Jewish fundamentalists, much of the old centre of Hebron has been violently remodelled as a sterile and highly militarised security landscape.30 Terraforming; Making Ground The old adage, ‘Buy land – they’re not making it any more’ is no longer true! – René Kolman, ‘New Land in the Water’ Artificial ground – and its attendant archaeospheres – does not just accumulate over time; it is, as already noted, increasingly manufactured and on remarkably large scales. Echoing the remarkable land drainage and reclamation projects in medieval Holland and England, or the dreams of using controlled nuclear explosions to reengineer the earth’s surface in the 1950s and 1960s,31 the manufacturing of large amounts of new ‘reclaimed’ land is now as central to the extension of coastal megacities as is their more celebrated vertical extension through skyscraper and other high-rise construction.32 The port of Rotterdam was a key laboratory of mass land reclamation in the 1970s.


pages: 488 words: 150,477