[scatters]

Land is different from other forms of property and capital. Its supply is almost completely inelastic, and it derives the largest proportion of its value from the efforts of others.

[robertlagrant]

The same could be said for a business that rents out classic cars.

[scatters]

Where do you think classic cars come from? Classic cars are constantly being created as existing cars age into that bracket.

[robertlagrant]

Sure, and people buy them up, just as they buy land. They're a finite resource.

[scatters]

They are an elastic resource. The amount being created is responsive to demand.

Also, they're substitutable; if people can't afford classic cars, they'll buy art, or wine, or yachts, or Rolexes, or a thousand other luxury goods. Land is only imperfectly substitutable, and it substitution has definite economic costs.

[prottog]

> it derives the largest proportion of its value from the efforts of others

We already know how to solve for this, via land value taxes. No need to remove private ownership to fix that.

[scatters]

Yes, I should have mentioned land value taxes. Depending on the level, they reduce or eliminate the property interest in the rental value of the land itself, while preserving the usufruct and stewardship aspects, crucially allowing the owner to take full property ownership of and benefit from the improvements they make to the land.