Georgian Economics

Reader comment on: Bribery at the Buildings Dept. — Again

Submitted by David Weinkrantz (United States), Feb 11, 2015 19:17

You have shown the varying degrees of inefficency, ineffectiveness, and venality in the New York City Building Department. That does not demonstrate that an unregulated construction activity would be better. Are there any cities that do not have a building department or the equivalent?

You argue that regulation is a factor in the high cost of New York City housing. No doubt it is a contributing factor. However, the economist Henry George argued that the value of land is created by the society not by the landlord. I think that the landlord would price based on the market value of land whether the Building Department existed or not.

It seems to me that the City should tax away the societally created land value.

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