> Land is monopoly.
Only in the same sense that I have a monopoly on my Toyota.
Only in the same sense that I have a monopoly on my Toyota.
A monopoly is a market with a single seller, not a market with inelastic supply.
In what universe? In the one I live in, the number of Toyotas is steadily increasing as a function of time.
There are a large number of pieces of real estate with proximity to any major city. They may all be controlled by some monopoly, depending on local laws etc, but typically they don't.
It's true that it's easier to make new cars than new land, but that does not in itself make the buying and selling of these things all that different. Note that the making of Toyotas actually is a monopoly.