The Remnant with Jonah Goldberg Tell Me About Henry George | Interview: Mike Bird
Oct 29, 2025
In this discussion, Mike Bird, Wall Street editor at The Economist and author of 'The Land Trap,' delves into the tangled history of land finance and the legacy of Henry George. He explains how urbanization impacts land value and examines the complexities of freehold and leasehold systems. Bird sheds light on how China's local governments finance through land sales and discusses the concept of Georgism, advocating for a single land tax. The conversation also touches on why communal experiments tend to fail and the enduring necessity of physical space in an increasingly digital world.
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Land's Unique Financial Role
- Land has always carried a financial element across civilizations because people seek to borrow or monetize its value.
- Its fixed supply makes it politically and economically distinct from other assets.
Value Comes From People Not Dirt
- Land values largely reflect the intangible capital and economic activity surrounding a location.
- Cities and transport technology transformed land value from agricultural to urban premiums.
Freehold Versus Leasehold Explained
- Freehold gives permanent ownership while leasehold grants long-term but finite rights, often used where land supply is constrained.
- British colonial leasehold systems funded infrastructure in Hong Kong and Singapore and influenced mainland China.
