Rethinking the Economics of Land and Housing.

Front Cover -- Title Page -- Copyright -- Contents -- Figures, Tables and Boxes -- Acknowledgements -- Abbreviations -- Glossary -- Foreword by John Muellbauer -- 1: Introduction -- 1.1: What Is Land? -- 1.2: What Is the Value of Land? -- 1.3: Landownership and Economic Rent -- 1.4: Summary of Chapters -- 2: Landownership and Property -- 2.1: Introduction -- 2.2: Landownership: Origins of the Theory and Forms -- 2.3: Landownership as Freedom: Secure Title and Economic Growth -- 2.4: Landownership as Theft: Power and Economic Rent -- 2.5: Hypothesis: Property Is Liberty, Property Is Theft -- 2.6: Responses to the Ownership Paradox -- 2.7: Conclusion -- 3: The Missing Factor: Land in Production and Distribution -- 3.1: Introduction -- 3.2: Classical Political Economy: Land and Economic Rent -- 3.3: Land Tax or Separation as a Solution to the Problem of Economic Rent -- 3.4: Neoclassical Economics and the Conflation of Land with Capital -- 3.5: Problems with the Neoclassical Account: Fundamental Differences Between Land and Capital -- 3.6: Political Reasons for the Disappearance of Land from Economic Theory -- 3.7: Land and Socialism -- 3.8: Consequences of the Conflation of Land and Capital Today -- 3.9: Conclusion -- 4: Land for Housing: Land Economics in the Modern Era -- 4.1: Introduction -- 4.2: The Industrial Revolution and the Growth of Cities -- 4.3: 1900-1970: World Wars and the Golden Age of Capitalism -- 4.4: 1970 Onwards: the Emergence of 'Residential Capitalism' -- 4.5: The New Political Economy of Housing -- 4.6: Conclusion -- 5: The Financialisation of Land and Housing -- 5.1: Introduction -- 5.2: House and Land Prices, Income and Bank Credit -- 5.3: Mortgage Finance, the 'Lifecycle' Model and the Role of Collateral -- 5.4: The History of Mortgage and Real Estate Finance in the UK.

5.5: Macroeconomic Effects of the Liberalisation of Mortgage Credit -- 5.6: The Property-Credit Nexus and Financial Fragility -- 5.7: Conclusion -- 6: Land, Wealth and Inequality -- 6.1: Introduction -- 6.2: Trends in Economic Inequality -- 6.3: Traditional Explanations for Increasing Inequality -- 6.4: The Role of Land and Economic Rent in Increasing Inequality -- 6.5: Why Inequality Matters -- 6.6: Conclusion -- 7: Putting Land Back into Economics and Policy -- 7.1: Introduction -- 7.2: Ownership -- 7.3: Tax Reform -- 7.4: Financial Reform -- 7.5: Reforms to Tenure -- 7.6: Planning Reform -- 7.7: Changes to Economics and National Accounting -- 7.8: Conclusion -- Bibliography -- Index -- Back Cover.

A comprehensive, critical but accessible guide to the role of land in housing policy and how it has been excluded from mainstream economic theory.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.