School of Economic Science - Study Forums

Brian Chance · Posted: Thu Jul 09, 2015 12:46 pm Post subject:

Collection of the annual value of the land, the rental value, for public purposes, including the cost of protection, would secure equality in the sharing of God's gifts to mankind. It is the present day equivalent of the Jubilee required by the Torah

Simon McKenna · Posted: Fri Aug 07, 2015 10:28 am Post subject:

Public collection of the annual value of the land does work in a theological way, indeed - redistributing wealth to all who benefit from God's creation, being as it were that are all just guests on earth. Jubilee also means the cancellation of all debts, which is something we desperately need in contemporary society, but is not necessarily implied by a land levy or tax. On the other hand, A Jubilee, like a land value tax, gives priority to human life over written contracts and economic bondage. It shows again that a land value tax, alone, will not be a sufficient reform.

Simon McKenna · Posted: Fri Aug 07, 2015 10:30 am Post subject:

Corbyn proposes land tax on values of unused land, demonstrates he doesn't understand economics at all. He is not alone of course; why do many of the people see that taxing land is effective, but do not see that it can do so much more? http://www.ft.com/cms/s/0/f72d0ee6-3c4f-11e5-bbd1-b37bc06f590c.html

Here is another missaplication of LVT in policy: it is being ammended by the Finance Minister so that it will include the value of the buildings.. http://www.bangkokpost.com/business/finance/644292/land-tax-gets-another-change

Brian Chance · Posted: Sun Aug 09, 2015 9:19 pm Post subject:

Simon
You are right to point out that a Jubilee also involves the forgiveness of debts. My previous comment was too brief. I agree that the cancellation of debts, particularly debts incurred for the purchase of land, is needed. Both the forgiveness of debt and the return of the land are dealt with by the provisions of Leviticus.
I meant to say that economic freedom can be made secure only by the collection of an annual levy on land. Cancellation of debts would not itself bring freedom because without the levy debt would build up again.
The primary cause of excessive debt is the private appropriation of the rent of land. Can somebody tell Jeremy Corbyn?
Brian

Simon McKenna · Posted: Tue Aug 11, 2015 6:59 pm Post subject:

Dear Brian,

You are absolutely correct. Forgiveness of debts is useless without addressing the key fact that unearned economic advantage will always be perpetuated by the private monopoly of nature's natural resources, primarily private land ownership.

What I find particularly interesting what the call for justice in the Torah and for George share in common: that human dignity takes primacy over contractual arrangements that exploit natural human requirements, (such as the need for capital or for a place to live).

Contrast this to the views expressed in the link below, where human dignity is disregarded in the name 'necessity' (in this case, for a place to live):

http://www.adamsmith.org/blog/planning-transport/britain-needs-more-slums/

Simon

Simon McKenna · Posted: Tue Aug 11, 2015 7:24 pm Post subject:

For those not on Facebook: this was posted by the Lib Dem group ALTER http://www.newstatesman.com/politics/2015/06/leader-case-taxing-land
It publishes the fact that 69% of the land in Britain is owned by 0.6% of the population.

They also posted this rather bizarre discussion of the fact that excluding land and housing, capital has not grown at all in the USA:
http://www.bloomberg.com/news/videos/2015-03-04/impose-a-tax-on-land-value-to-address-inequality-orszag

Simon McKenna · Posted: Wed Dec 30, 2015 6:52 pm Post subject:

Martin Adams at Progress.org (author of Land: A New Paradigm) has come out in support of a basic income funded by community land value collection.

In this post Adams cites George's supposed support for basic income. In my opinion, George is suggesting it as only a possibility, one which illustrates the potential of centralised rent collection. Otherwise it is only as a support for the infirm/elderly - those who can't support themselves. http://www.progress.org/article/henry-george-in-favor-of-a-basic-income

Our brief discussion about basic income is on the LVT group Facebook (scroll up to the video which prompted our discussion): https://www.facebook.com/groups/landvaluetax/permalink/1058059974227023/?comment_id=1058584240841263&reply_comment_id=1060508393982181&notif_t=group_comment

Simon McKenna · Posted: Tue Jan 05, 2016 10:37 am Post subject:

a critique of Georgism https://wti.liberty.me/feudalism-disguised-as-egalitarianism-a-critique-of-georgism/

Simon McKenna · Posted: Tue Jan 05, 2016 2:24 pm Post subject:

600,000 plots of land held out of use by property developers. Does not include land held for 'strategic' purposes. Obviously the strategy amounts to 'why work for the money doing nothing will raise the value anyway?' The property developers' are clearly in no need of cash so have little desire to make more. http://www.theguardian.com/society/2015/dec/30/revealed-housebuilders-sitting-on-450000-plots-of-undeveloped-land

Simon McKenna · Posted: Wed Feb 03, 2016 7:00 pm Post subject:

Fred Harrison ominously declaring the 'game will be up' (after another crash in 2019)
http://www.theguardian.com/commentisfree/2016/jan/29/heading-for-a-crash-global-economic-meltdown-panel-repeat-2008-china-slowdown

Simon McKenna · Posted: Tue Feb 09, 2016 11:18 pm Post subject:

I've been reading a lot of Fred Harrison recently. This article proves a certain vested interest pervades the house of commons, no doubt. http://www.theguardian.com/housing-network/2016/jan/14/mp-landlords-number-risen-quarter-last-parliament-housing-bill

Simon McKenna · Posted: Wed Feb 10, 2016 12:14 pm Post subject:

Article by a tech enthusiast who applauds George but does not see how new technologies (such as the car) do not disrupt the unfair acquisition of wealth that happens when landlords are allowed to collect the unearned income, even when it has happened around her http://techcrunch.com/2016/01/29/nothing-like-this-has-ever-happened-before/

The reply by Jacob at earthsharing.org http://earthsharing.org/2016/02/everything-like-happened/

Simon McKenna · Posted: Tue Feb 23, 2016 8:54 pm Post subject:

New report by Tom Copley (London Assembly) proposing LVT for London. The link is for the press release, full report is not too lengthy and quite interesting and easy to read (link towards end of press release). https://www.london.gov.uk/press-releases/assembly/does-london-need-a-land-tax. Copley suggests using LVT in place of council tax since implementing it as a single tax may be beyond the powers of the Mayor. When he suggests that land values might be difficult to calculate he means the 'political challenges' are the real cause of the difficulty. Funny how squeamish we can become when forced to examine the truth and reality of Land!

Simon McKenna · Posted: Tue Mar 01, 2016 8:31 am Post subject:

Excellent article calling for the reform of economics as taught in the universities. The authors highlight the faults of 'Market Fundamentalism' which is built on fallacious assumptions which are not brought into question despite evident market failure. They highlight how the teaching of economics supports this blindness. It is remarkable how Georgist this paper is despite not mentioning the land question once! http://www.gcgi.info/index.php?option=com_content&view=article&id=91:economics-and-economists-engulfed-by-crises-what-do-we-tell-the-students&catid=1:latest-news&Itemid=50

Simon McKenna · Posted: Thu Mar 31, 2016 8:02 pm Post subject:

An excellent program on the attempt by students to reform the teaching of economics in their universities. BBC Radio 4 In Business: http://bbc.in/1pBBGW9
The movement mentioned is 'rethinking economics': http://www.rethinkeconomics.org/