This paper creates a land economy model under the framework of the consistent growth theory to investigate the impacts of different forms of ownership on longterm economic equilibrium.As demonstrated under the model,in an economy of private ownership that allows the free transfer of land,land gradually becomes concentrated in the hands of a few;income growth deriving from technological progress merely contributes to the wealth and consumption of landowners;landless workers will struggle at the level of subsistence.An economy of public or collective ownership that forbids the transfer of land can ensure basic social equity.However,in a collective economy without a contract system,population is likely to grow excessively and thus requires external restraint.The conclusions of our model suggest that the long-term welfare and growth effect under collective ownership with a contract system is superior to those under private ownership and pure public ownership.
