Richard Murphy says:
June 10 2016 at 2:19 pm
But land has no value unless the state protects the claim on it
There have been a number of historical periods when the bloke who can organise the largest bunch of thugs got to “own” the land. It had value therefore without a state to protect the claim.
A lower value most certainly but all those feudal lords were in fact rich as a result of the land they controlled.