However, this causes land speculation which drives the price of land up, and people do not want to develop properties because it would means investing in buildings which costs money to build and maintain and entails risk and ongoing effort.
The correct solution to this is a land value tax, which if implemented correctly, should drive down the price of land down to zero and force Jack Ma's family to either commit to actually investing in UK's economy or park their wealth elsewhere.
None of this is true.
Step by step:
>as it is fixed
Something not being able to be moved is a negative, not a positive
>finite
New land is created all the time. The netherlands has created an entire new province.
> and doesn't depreciate in value
Only true legally. I can assure you land does depreciate, as can any farmer that has used it to farm the same crop for years and now finds its yields reduced as a result.
>except through market trend
So, just like any other asset?
> it basically only go up as long as the economy itself grow.
Untrue, simply check any number of rural areas that have had the life drained out of them over the past 50 years.
Land is useful, but let's not pretend like it's something it isn't.
I'm not sure how to work this to everyday people's benefit - are the taxes to be so large punative that half of everyday home owners need to sell up? (I mean, the tax will only depress value if sales are avoided, or existing owners choose to sell, right?)
I'm probably in the "increase supply until no one else wants one" camp...
https://en.wikipedia.org/wiki/Land_value_tax
also take a look at https://en.wikipedia.org/wiki/Georgism