Saudi reforms

A couple of days ago I revised the "land rent is inevitable" page. The old version said people would wake up one day and say "Aha! That's a good idea!" But what people think is really irrelevant. Land rent will arrive regardless of what we think or what we call it, because it is simply good business.

Today's news illustrates this fact on a governmental scale. The new Saudi king is allowing reforms. Very slowly, painfully slowly, but he is joining the World Trade Organization, and allowing just a tiny bit more dissent. This illustrates the point that powerful people WILL give up power and WILL allow choice, if it creates wealth. The bottom line is that justice creates wealth, and that is why, despite temporary setbacks, it is inevitable.