The Land Trap by Mike Bird review – ground down

A masterful introduction to the economics of our most basic asset‘The landlord is a gentleman who does not earn his wealth … his sole function, his chief pride, is the consumption of wealth produced by others.” It was 1909, and a liberal politician was launching an assault on a class of people who – in the eyes of many – contributed nothing to Britain’s advances in industry while living off its gains.A little over a century after David Lloyd George’s Limehouse speech, and it feels as though the issue of land has returned to politics: an analysis of MPs’ financial interests revealed that a quarter of all Tory MPs earned more than £10,000 from renting out property, while 44 Labour MPs – 11% – did the same. The winner of the most dazzling political campaign of the past year, New York City mayor-elect Zohran Mamdani made “freeze the rent” his central pledge. On the right, a revolt against property taxes is gathering pace. Journalist Mike Bird’s history of the most basic asset arrives, then, at an opportune moment. Continue reading...