Re: 'Waterhole' and land rents

On Tue, 23 Jan 2007 06:12:58 GMT, royls@xxxxxxxxx in sci.econ
confessed to the world saying:
On Tue, 23 Jan 2007 02:07:53 GMT, "Dan in Philly" <djr8@xxxxxxx>
wrote:

<royls@xxxxxxxxx> wrote in message ...

Seems to me that the inital increase in the value of land is driven
entirely by the act of showing everyone else that the water is there.

Well noted. Why doesn't the increase in value go *to him*?

Because he didn't cause it. He only triggered it. Anyone could --
and in time someone certainly _would_ -- have done the same.

That's a big assumption,

No, it's an obvious fact.

and ties into my question about taxing
intelligence. Maybe this person thought of something that no one else had
thought of, and never would think of.

We're talking about waterholes, here. The water's there. It's just a
matter of someone eventually finding it.

No we were talking about someone actually making the waterhole,
not just finding it.

You are probably right, someone eventually was going to get around
to doing some work and showing that all along there was water under
land and make it available at the surface somehow.

The point is the water was there all along and prior to the work
that land enjoyed a land value of X. After the work was perfromed
the land and the land surrounding the property the person who
did the work owned/possessed/rented now also commands a higher
value.

Since the water was there all along, just as the land was it's the
work that produced the value. The only question is the extent of the
value that the person legitimately should have claim to and how to
affect that compensation from society to that person.

Probably for both sumplicities sake and to avoid a lot of
fighting the evolution of society has resulted in not
enforcing any compensation for the production of positive
externalities so the other land owners just get the benefit.


jmh
.

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