Myth 224 - Our land is limited! Property prices must go up!
Everyone is spouting this nonsense daily as if it is a gospel truth. There is limited land, we are land scarce, so property prices can only go up. The supply will never meet the demands. Here is the fallacy or root of this fallacy. Who says we don’t have enough land? Or why is there not enough land? Land was plentiful at one time. The migrants just go around and build their little attap or zinc roof houses anywhere, on any piece of empty land they could find. Our population then was a few hundred thousand and increasing gradually. At 2 million or 3 million, land is not an issue. It is when we keep piling up the numbers, inviting more and more people here that land become scarce. We create our own problem. We make our land scarce. We will have plenty of land once more if people start to run away from this land. Or we can stop the inflow and reduce the population. But economic laws and principles will be against any reduction. It means recession and depression. No growth is bad. So we must have growth and growth and growth. This unending growth is good for us. Same as for the whole world. Keep producing more people and more people. Go forth and multiply. Where will it end if growth is unceasing, unending? Is our limited land a myth or a conjure reality? We have changed from land abundance to land scarce. That is clever from the economics of growth. If Australia will to blindly follow this economic principle of growth, it too will run out of land in a matter of time. The whole world will run out of land. But it does not have to. The pain is self inflicted. We don't have to go down this road. It's final destiny is self destruct. We need to know our limitations and stop while we can. So is the world. Population growth, economic growth, high consumption, high destruction to environment, depletion of resources and food supply, climate warming etc etc etc. All for incessant growth.