this post was submitted on 22 Apr 2024
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A Boring Dystopia
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It's not, though. The classical factors of production, whence we get the concept of "capital" as a factor of production, has land and capital as clearly separate:
https://en.m.wikipedia.org/wiki/Factors_of_production
And it's an important distinction. The fact that land is not made and inherently finite makes it zero-sum. Meanwhile, the fact that capital such as education, tools, factories, infrastructure, etc. are man-made and not inherently finite makes them not zero-sum. This distinction has truly massive implications when it comes to economics and policymaking. It's the whole reason LVT is so effective, so efficient, and so fair: it exploits the unique zero-sum nature of land.
It seems you're using a more technical definition than I was. I was thinking something along the lines of definition 1a(3) in this dictionary entry. I agree there are important differences between land and other money-making assets.