Monday, November 19, 2012

Land use law and property value

Capital investment often starts with land ownership.
...a property document that is the visible sign of a vast hidden process that connects all these assets to the rest of the economy.” 70% of all small businesses in the United States are started by equity loans on personal homes. Small, independently-owned businesses employ the majority of people in the U.S.
Thomas Sowell points out that...
Land use laws are just one way that governments can confiscate much of the value of private property without having to compensate the owner.
We know how wealth is created: by individuals working and saving for years without government interference. Constant interference by government reduces wealth and sustains poverty. Being a government dependent is demeaning.

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