I'm not so convinced on the land rent thesis.
Fewer jobs, less money --> people less willing to pay for anything more than bare minimum --> downward pressure where being cheap is the biggest selling point.
Fewer jobs, less money --> people less willing to pay for anything more than bare minimum --> downward pressure where being cheap is the biggest selling point.
It's "more productivity, more money → higher land rents → upward pressure on everything → higher floor of economic productivity required for someone to earn a plot of land to live or work upon"