This post came a couple days late, sorry about that.

Explanation:

When I say other finite resources, I’m also including non-land natural resources as well as exclusive legal monopolies like patents and copyrights over a particular innovation, or the ability to control naturally monopolistic industries like utilities (check out this list for some more good examples). It’s a bit confusing, but the gist is that any asset which people can’t reproduce and compete with is one that its owners can use to extract wealth from society without producing or providing anything in return (while legal and natural monopolies are already well known as monopolies for this, for land and nature as a whole they’ve also been put under the term “monopoly” since the times of the classical economists)

Our current problem nowadays is that people can control these assets and privately collect that extracted wealth. This invites bad actors who, instead of investing themselves in productive business or work, will take these finite assets as a piggy bank and a way for economic power. Things like land speculation raise the cost and scarcity of finite things for the people who actually want to use them for good, which is not only bad for the economy because it squeezes out actual producers, but also raises inequality between those who control the finite bottlenecks of the economy and those who are trapped on the other side. Instead of fixing this bad behavior by compensating (or otherwise reforming) the fencing off of these finite privileges, governments will instead tax the very people who work/do business/trade and keep the economy running, hampering everything further.

The solution to this (as has been said many times before) is to simply do the opposite: don’t tax the goods and services people make (whether by labor, capital, or trade), compensate (or otherwise reform) the finite resources people take; natural or artificial regardless.