Mark Wadsworth points out a rather bizarre comment on a piece on the Guardian website recently about Land Value Tax.  Bizarre doesn’t really cut it quite frankly, but it’s an example of just how wrong people can be!

The main rather astounding claim made by ‘Eachran’ (if that is his real name 😉 ) is that

Rent? It doesn’t exist and neither does land value except in fantasy economics and accounting.

<Sigh> Really? I mean come on….seriously?!  What is wrong with these people?

Fine, I guess I’ll explain to everyone how ‘economic rent’/land value actually *does* exist.  I’ll even draw some helpful pictures! Continue reading