I'm not disagreeing that land can be a good investment for that reason (though psychically knowing which bits of land will increase in desirability in the future is not trivial).
I _am_ disagreeing with your assertion that "there is a certain amount of delusion in expecting any static resource to meet monotonically increasing amounts of demand". Increasing the efficiency with which you use a resource is, in fact, an excellent way to make a static resource meet an increasing amount of demand.
> instead of building an arbitrarily tall building, you band together with the other land owners and implement something called zoning that restricts how high buildings can be
AFAIK this isn't the actual origin of restrictive American zoning policy, but yes I see your point. However, effective NIMBYism requires that small groups of zealous locals be able to control construction in the first place. If zoning policy was restructured to be controlled primarily by the federal or state government, it would be impossible for local councils to zone away dense construction the way they do now. Japan is a practical example of a country that does zoning in exactly this way.
I _am_ disagreeing with your assertion that "there is a certain amount of delusion in expecting any static resource to meet monotonically increasing amounts of demand". Increasing the efficiency with which you use a resource is, in fact, an excellent way to make a static resource meet an increasing amount of demand.
> instead of building an arbitrarily tall building, you band together with the other land owners and implement something called zoning that restricts how high buildings can be
AFAIK this isn't the actual origin of restrictive American zoning policy, but yes I see your point. However, effective NIMBYism requires that small groups of zealous locals be able to control construction in the first place. If zoning policy was restructured to be controlled primarily by the federal or state government, it would be impossible for local councils to zone away dense construction the way they do now. Japan is a practical example of a country that does zoning in exactly this way.