James James: Today in London there’s a car park for sale in Mayfair (the most expensive location on the Monopoly board) for £100m: “Property experts believe that the half acre site… could be worth at least £500 million when fully developed.” So that’s a billion pounds an acre in the most expensive part of London. http://www.standard.co.u k/news/london/bidding-wa r-for-londons-oldest-car -park-which-could-be-wor th-500m-when-redeveloped -10206431.html
Bob Sykes: This research is long overdue. There are any number of parasites that can control their host’s behavior. Greg Cochrane thinks homosexuality, at least in men, is the result of an intrauterine infection. How many other weird human behaviors are parasite or infection driven? Feminism? Progressivism?
Ross: Christof Schiller “Motion Mountain”, a magnus opus on all branches of Physics is superb and essentially free. I’ve wondered over the years why I’ve heard so little about it.
Richard Brookes: As a slight aside, I’m distrustful of aggregating market values of goods that are not for sale. (See this post for an explanation). I remember from 20 years ago the claim that one park in Tokyo was worth more than all the land in California. That absurdity resulted from the absurdity of trying to estimate “what this thing would cost to buy if it was for sale, which it isn’t” It’s fair enough to estimate the value of an aggregate of all the land in a state on...
Lucklucky: Another co-argument could be societal specialization, specialization breads a narrative of perfection, obsessiveness: indoctrination and consequent evolution up to paranoid levels. Everyone of us can go over the top in every subject because now we can. Being parent is like being a top athlete dedicating inordinate amounts of resources to the project.
Lucklucky: What about societal evolution and its “muscle memory”? Protecting children is so good that societal evolution takes it to paroxysm.
Isegoria: If those numbers looked off by three orders of magnitude, there’s a reason: This post has been updated. Due to an error in the BEA paper, figures for the per-acre value of states were incorrect by a factor of 1,000. As a result, a previous version of the chart, “Sea to Shining Sea,” showed incorrect figures for the total value of land per state and the per-acre value. (Mindlessly cutting and pasting them was still my fault though.)
Isegoria: Land taxes do depress land values and do not increase rents.
James James: Remember that things like income tax depress land values. In a Georgist state with no other taxes, rents would go up and land would be worth much more. The state would still collect as much tax as it does now, but all from land.
James James: I’d say off by three orders of magnitude. In central London it can get up to £100m/acre.