Auction based Geolibertarianism for Land Resource Use

[Acrylicist]

Read all of it from http://vinay.howtolivewiki.com/blog/global/auction-based-geolibertarianism-621
:

The approach I’ve been considering is an auction-based
geolibertarianism. I don’t have a name for this and I’m fairly sure
it’s already been considered, but I haven’t found out where. The idea
is that the right to use each individual piece of land in given ways
for a given period of time is auctioned. All land rights in the
territory so governed are leases granted for limited periods and
allocated at auction.

The proceeds are then divided equally among the population as income.
This system prevents land falling out of use because it is uneconomic
to pay the land value tax on it, and also side-steps tricky issues of
assessing the value of land. It also allows for sane environmental
policy, as certain rights (like the right to strip mine the land) are
simply never granted in the leases generated. Other environmental law
can be based in the collective ownership of the land itself.

Sublease is another very interesting land right that may or may not be
granted. Transferability of leases, use for original purposes and so
on are also open questions. Speculation is highly questionable because
it creates a bunch of pathological incentives, like borrowing a pile
of money to lease land one doesn’t intend to use, creating a bank-run
economy because of the way the State uses its monopoly power. We’ve
been there, let’s not do that again.

This gives a universal basic income which is not raised by taxation,
floats freely with market conditions (and so remains realistic) and
still provides meaningful private land ownership.

A “zoning board” would set land use terms and lease lengths, and also
deal with the tricky issue of intelligently figuring out property
boundaries to minimize pathological cases. Clearly this is a nexus of
power that needs much more analysis.