The Basic Insight: The Law of Rent
The law of what? You mean you’ve never heard of it? It’s odd… the Law of Rent is every bit as fundamental as the laws of supply and demand, or motion, or thermodynamics.
So, why have so many people never heard of it? That is one of the great “intellectual detective stories” of modern times. To help unravel it, we’ve come up with a presentation on the basic principles of wealth distribution — in which we focus on one of history’s most celebrated pieces of land: the island of Manhattan.