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Earth Sharing ποΈ + π° = π & π retweeted
Good. Collecting resources rents and tackling corruption should be the priority. Botswana has achieved a higher GDP per capita than China by doing this, Angola could too.
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Earth Sharing ποΈ + π° = π & π retweeted
1. land value tax
2. Taxes on IP and Patents
3. Pigovian taxes
4. No other taxes needed.
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Definitely time for a Land Value Tax and basic income! I lay out the case here: theguardian.com/global-develβ¦
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Rent produced by society and nature accounts for over half the UK Gross Income. Current deadweight taxes - the ones which repress jobs and trade by at least Β£500bn a year [Harrison] - collect about one third. Collecting socially produced wealth is immune to deadweight losses.
Earth Sharing ποΈ + π° = π & π retweeted
"Capitalism is poorly understood, due to the conflation of land with capital..." ~Comment under a Financial Times article.
#LVT #Physiocrats #HenryGeorge
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Interesting. Yes, changing from communism to landlordism can be a little like a frontier. That's why eastern Europe has high home ownership rates.
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An EU or a UK collecting AGR/LVT, instead of taxing wages and trade, would not experience the forced migration of people and wealth from the periphery to the economic centre.
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If you get the law of rent, then you get economics.
"Rent does not, in any way, represent any aid or advantage to production. Rent is simply the power to take part of the results of production." βHenry George
"Rent is the secret tax that the wealthy charge the poor." βStiglitz
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marginalrevolution.com/margi⦠It is too subtle to explain in a tweet, but it is a fundamental theorem....basically only quadratic has linear derivative
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Fascinating. It also means Botswana lost 18% of the value of their diamonds. Still, much better than Australia, which lost 82% of their minerals.
@thefutureweneed @PWYPtweets @nrgi @davidmihalyi @ThomasLassourd @jimcust @MilesLitvinoff link.medium.com/KTTy358mHS
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The good result of collecting and using diamond rent in Botswana
#Earthsharing!
In 2014, 82% of Botswanaβs diamond production rents were recovered by Government in tax & joint venture profits, allowing Botswana to sustain the world's highest growth rates (1966-1991). Only African country w/ "A" credit rating.
CC @DinaPomeranz @Noahpinion #LVT
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Georgism as the alternative to capitalism?
I like it.
ft.com/content/10b7f566-f3fdβ¦
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"You who shall liberate the land will do more for your country than we have done in the liberation of its trade.β
-- Richard Cobden
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Lol. Please send me the video of a Georgist hacking off someone's head while screaming, "The equal right of all men to the use of land is as clear as their equal right to breathe the air β it is a right proclaimed by the fact of their existence!"
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Internet Georgism is a very interesting case...an alliance of radical leftists and radical rightists to support a moderate, neoliberal technocratic policy.
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Although the 1909 budget (with its land taxes) was defeated by the Lords, they later, after an election, passed the bill. It was actually protracted land valuations and WW1 that ultimately defeated land taxes...
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Just saw this in our comments; convinced it's now at the level of #vanre copypasta.
"Vancouver's problem is success. That town has been so successful that everyone wants to live there; the prize goes to the highest bidder. "
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The state-sponsored extraction of socially-produced wealth by a minority (site owners) causes inequality. Collecting and delivering that surplus to its producers (all of us) is possible: With AGR/LVT in place, today's hapless palliative management of the economy would be history.
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Mason Gaffney has several:
OIL AND GAS: THE UNFINISHED TAX REFORM
drive.google.com/file/d/1XJmβ¦
Oil and Gas Leasing: a Study in Pseudo-Socialism
drive.google.com/file/d/1LsDβ¦
A Severance Tax on California Oil?
drive.google.com/file/d/1Etvβ¦
Alaska's proposed reserves tax
drive.google.com/file/d/1xmGβ¦