Original sentence: In practice, the elimination of all other taxes implies a high land value tax, and a correspondingly sharp drop in the value of land ownership, although there would be no change in land rental prices (other than those caused by reduction of other taxes and regulations) for reasons first explained by Adam Smith in his book The Wealth of Nations
Edited sentence: Georgists argue that there would be no change in land rental prices (other than those caused by reduction of other taxes and regulations) for reasons first put forward by Adam Smith in his book The Wealth of Nations.. However this argument supposes a relatively low land value tax.In practice, the elimination of all other taxes implies a high land value tax, and a correspondingly sharp drop in the value of land ownership