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Land is the world's oldest and most important asset, and it governs the course of our lives more than any other form of wealth. But this immense power is also what makes it so dangerous. From the speculative land grabs of colonial America to China's modern-day real estate crisis, this gripping narrative shows how the economics of land can make and break families, businesses, and even entire nations.

In The Land Trap, Mike Bird—Wall Street editor at The Economist—reveals how this ancient asset still exerts outsize influence over the modern world. From the speculative land grabs of colonial America to China's real estate crisis today, Bird shows how fortunes are built—and destroyed—on the bedrock of land. Tracing three centuries of history, Bird explores how land quietly became the linchpin of the global banking system, driving everything from soaring housing prices to rising geopolitical tensions.