Fred Emanuel Foldvary
San Jose State University
A large share of the gains from economic progress are captured by higher land rents, as opposed to higher wages or capital yields, such that landlords capture an outsized share of development through charging higher rents.
If the rise in inequality between labor and capital is due to the rise in land value - as opposed to capital increasing its share of national income - then land value taxation for public benefit would reduce inequality while promoting efficiency.
The taxation of land value as the means towards optimal urban development and the extirpation of excessive economic inequality.
Land Value Tax