Andrew C Wang's Blog

Land and Georgism

Land, Georgism, landlording (a la pied a terre tax in NYC), etc. I talk about how in combination with the deployment of capital from highly capitalized firms, you can see distortions in the market from greed in growth and the individual. E.g. Luckin Coffee or Starbucks in Manhattan, to an extent Dollar General squeezing out grocers in food deserts. The key for the NYC restaurants is their ability to squeeze out local competition through being better guarantors or even potentially being a higher bidder of rent as large multinational corporations compared to local food. This has led to the corporatization of both Williamsburg and, of course, Manhattan.