[zozbot234]

The problem with rolling leases is that policymakers have a big incentive to break the leasing arrangement and sell the land outright/give it away to their corrupt cronies, because this lets them capture value for themselves that would properly belong to future generations. Leases may work if they have strong, quasi-constitutional protections though.

[jjoonathan]

Right, but if we let "rich people want to be paid for being rich" stop us then we can't accomplish anything because that will never change :)

[zozbot234]

I'm just saying that rolling leases have a very real incentive problem compared to other approaches. So ongoing taxation (i.e. LVT) may be a better all-around solution. Policymakers can also monetize future tax revenues, by taking on more government debt; but this tends to be a lot more visible and make bond investors more upset compared to the obscurity of land sales.