Why taxing unimproved land can distort incentives

In this solo episode, Bob challenges the populist narrative that private equity ownership of homes is the main driver of rising housing costs. He explains the actual role of speculators in stabilizing markets, compares housing to used car dealerships, and critiques proposals like Henry George’s land tax. Bob also points to zoning restrictions and the Federal Reserve’s balance sheet as the real culprits behind skyrocketing prices.

• The Social Function of Stock Speculators: Mises.org/HAP518a
• Rothbard's Treatise, Man, Economy, and State: Mises.org/HAP518b
• Bob's Study Guide to Man, Economy, and State: Mises.org/HAP518c

The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree