Table of Contents
Land, Volume 8, Issue 1 (January 2019)
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Cover Story (view full-size image) Land has traditionally been assumed to be a fixed production factor, both in terms of quantity [...] Read more. Land has traditionally been assumed to be a fixed production factor, both in terms of quantity supplied and mobility, as opposed to capital and labor, which are usually considered to be mobile factors. Yet, in the last decade, international investors have expressed an unexpected interest in land-related investments, with the demand for land rising abruptly. In spite of a fast-growing literature resource analyzing the variety of “spaces” affected by large-scale land acquisitions (LSLAs), the contemporary process of “commodification” of land embedded in this trend has taken present-day economists by surprise. Through a brief history of land in economics, this paper reviews the evolution over time of the concept of land in economics and suggests how different aspects of this evolution are relevant to the understanding of contemporary LSLAs. View this paper.