Comment by mothballed

And that is another weakness of Georgism: it causes the base stock to be fixed.

Land speculators play an important role by introducing unimproved land into the market at a delayed point in time, adjusting the stock of available land to market demands, preventing economically inefficient prior improvements from happening which then make it even more expensive to use the land productively in the future.

The incredibly vital task of land speculation that adjusts available stock to market conditions, is virtually impossible under a LVT.