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Question: What happens when all the land possible is owned already in the future?
Answer: Well, that’s an interesting question. What happens when all of the Rembrandt paintings are already owned? What happens when all of the cars made in 1960 are already owned? There is an economics of scarcity, of course, that kicks in; prices go up, demand diminishes in various ways. But it also is the case that it provides incentives for smart, creative people to think about technological and engineering solutions.
Now, we have much more land than we have Rembrandt paintings and so forth, but think of engineering solutions like sea reclamation projects. Or, giant ships that can cruise the ocean or park themselves in the ocean for people to live on, or building up in skyscrapers, or building more underground, the way we often do with car parks now. Clever human beings will always figure out a way to have enough stuff that’s valuable.
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