Open Book with Anthony Scaramucci The Biggest Lie We're Told About About Land - Mike Bird
7 snips
Dec 9, 2025 
Mike Bird, Wall Street editor at The Economist and author of The Land Trap, dives into the historical complexities of land ownership. He explores the differences between leaseholds and freeholds and how governments manipulate land for revenue and social engineering. Bird reveals how land exacerbates wealth inequality, highlighting its role in China's economic challenges and housing market crisis. He connects land dynamics to global geopolitics, demonstrating its far-reaching implications on trade and stability. A thought-provoking discussion on an often-overlooked asset!
AI Snips
Chapters
Books
Transcript
Episode notes
Hong Kong Sparked His Focus On Land
- Mike Bird's interest in land started growing after living in Hong Kong where the government leases land and prices dwarf London and New York.
- That experience shifted his focus from housing to the political and economic role of land.
Land Creates Unearned Wealth
- Land generates wealth without continuous innovation, so owners can gain long-term unearned advantages.
- This creates a different, often less merited form of wealth inequality than entrepreneurship does.
The National Risk Of Land-Dependent Economies
- When a national economy depends heavily on land, both booms and busts can destabilize growth and finances.
- China exemplifies this risk: land-led growth left banks and households highly exposed to property swings.
