Comment - Land Value Tax Campaign

Tales from a school classroom

Written on 10 November 2008. Posted in General.

A few months ago a neighbour’s son told me that he was thinking of studying Economics for A-level. I suggested that there were more useful subjects, like chemistry, or woodwork or cookery. If he studied economics he would learn things as they were not, in other words it was worse then useless, and that if he wanted to learn about economics, he should take a Saturday job in a street market,...

Hints for underprivileged landholders

Written on 6 November 2008. Posted in Economics.

We are all familiar by now with several well‑tried ways to successful landownership. Cash in on grants of planning permission (everywhere and anywhere). Collect other people’s subsidies or tax breaks (agriculture). Take advantage of infrastructural improvements (road, rail). Leech on to improved social order (Belfast), devolution of political and administrative authority (Edinburgh, Cardiff),...

Interest rate slashed

Written on 6 November 2008. Posted in Banking.

The Bank of England’s monetary policy committee slashed its key rate by an unprecedented 1.5 percentage points to 3%, the lowest since 1955, emphasising its growing concern over a contracting economy. The ECB cut rates by half a point to 3.25%. But after allowing for inflation, interest rates are already negative and that is before tax. How much lower does anyone imagine they need to go to...

USA – Land of opportunity

Written on 5 November 2008. Posted in History.

The euphoria following the election of Barak Obama is understandable and seems to give fresh force to the idea that in the United States, anyone can “make it”. So powerful was this notion that in the impoverished Jewish communities of Eastern Europe in the early 1900s, the United States was called the “Guldene Medina”. But even then, it was history. Most immigrants from Eastern...

Social mobility improves

Written on 4 November 2008. Posted in General.

Polly Toynbee has been talking about the latest figures on social mobility in Britain, which suggest things are improving, but only slightly. She puts the problem down to educational and pay inequalities and points to the Nordic countries as exemplars.

The exception to the Laffer Curve

Written on 3 November 2008. Posted in Taxation.

The Laffer Curve is derived from the observation that the higher the tax rate goes about above 30% or so, the less revenue is raised. But it only applies to present taxes which are levied on transactions, work, goods, and services. The tax reform proposed by the Campaign is an exception to Laffer’s rule.

The mechanism of exploitation

Written on 29 October 2008. Posted in Marxism.

Marx was much concerned with the notion of exploitation, which he regarded as inherent to Capitalism. But the only people who can exploit other people’s labour are landowners. They can even exploit owners of capital, properly defined. (that is one of the defects of Marx, he lumps land and capital together and calls them both capital). The situation is understandable with this parable.

Marxism’s fatal flaw

Written on 29 October 2008. Posted in Marxism.

Marx’s analysis of capitalism is plain wrong. Marx lumps together land and capital and calls them both “land”. A disastrous confusion. Capital is produced by labour. Land is fixed in supply and is a gift of nature (or of God but there is a widepread view just now that he doesn’t exist). Both workers and the owners of capital are both at the mercy of landowners. Which is why...

BBC Any Answers?

Written on 26 October 2008. Posted in General.

Has anyone ever succeeded in getting the subject of land value taxation mentioned on “Any Answers?”, the programme that follows Any Questions? at 2.00pm on Saturdays. This week, the first question was “Who is to blame for the crisis?” Just to see what would happen, I sent in this email, to no effect.

The Keynesian Option

Written on 24 October 2008. Posted in General.

During the Great Depression, a programme of public works was initiated by President Roosevelt as a means of relieving unemployement. Will the same thing be needed again?

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