Georgism

Georgism (also known as geoism and geonomics) is an economic philosophy holding that the economic value derived from land, including [19] Applying this method, George concluded that many of the problems that beset society, such as poverty, inequality, and economic booms and busts, could be attributed to the private ownership of the necessary resource, land.

In Georgism, a land value tax is seen as fitting the definition of a user fee instead of a tax, since it is tied to the market value of socially created locational advantage, the privilege to exclude others from locations. Assets consisting of commodified privilege can be viewed as wealth since they have exchange value, similar to [8] since it falls entirely on ownership of valuable land, which is highly correlated to incomes,[21] and there is no means by which landlords can shift the tax burden onto tenants or laborers.

Economic properties

Standard deadweight loss"); hence, a replacement of other more distortionary taxes with a land value tax would improve economic welfare.[22] As land value tax can improve the use of land and redirect investment toward productive, non-rentseeking activities, it could even have a negative deadweight loss that boosts productivity.[23] Because land value tax would fall on foreign land speculators, the Australian Treasury estimated that land value tax was unique in having a negative marginal excess burden, meaning that it would increase long-run living standards.[24]

It was Adam Smith who first noted the efficiency and distributional properties of a land value tax in his book, The Wealth of Nations:[6]

Ground-rents are a still more proper subject of taxation than the rent of houses. A tax upon ground-rents would not raise the rents of houses. It would fall altogether upon the owner of the ground-rent, who acts always as a monopolist, and exacts the greatest rent which can be got for the use of his ground. More or less can be got for it according as the competitors happen to be richer or poorer, or can afford to gratify their fancy for a particular spot of ground at a greater or smaller expense. In every country the greatest number of rich competitors is in the capital, and it is there accordingly that the highest ground-rents are always to be found. As the wealth of those competitors would in no respect be increased by a tax upon ground-rents, they would not probably be disposed to pay more for the use of the ground. Whether the tax was to be advanced by the inhabitant, or by the owner of the ground, would be of little importance. The more the inhabitant was obliged to pay for the tax, the less he would incline to pay for the ground; so that the final payment of the tax would fall altogether upon the owner of the ground-rent. Both ground-rents and the ordinary rent of land are a species of revenue which the owner, in many cases, enjoys without any care or attention of his own. Though a part of this revenue should be taken from him in order to defray the expenses of the state, no discouragement will thereby be given to any sort of industry. The annual produce of the land and labour of the society, the real wealth and revenue of the great body of the people, might be the same after such a tax as before. Ground-rents and the ordinary rent of land are, therefore, perhaps, the species of revenue which can best bear to have a peculiar tax imposed upon them. [...] Nothing can be more reasonable than that a fund which owes its existence to the good government of the state should be taxed peculiarly, or should contribute something more than the greater part of other funds, towards the support of that government.

Ben Franklin and Winston Churchill made similar distributional and efficient arguments for publicly capturing land rents. They noted that the costs of taxes and the benefits of public spending always eventually fall on and enrich, respectively, the owners of land. Therefore, they believed it would be best to defray public costs and recapture value of public spending by placing public charges directly on owners of land titles, rather than harming public welfare with taxes on trade and labor.[25][26]

Henry George wrote that his plan would call upon people "to contribute to the public, not in proportion to what they produce . . . but in proportion to the value of natural [common] opportunities that they hold [monopolize]." He went on to explain that "by taking for public use that value which attaches to land by reason of the growth and improvement of the community," it would, "make the holding of land unprofitable to the mere owner, and profitable only to the user." Under George's plan, it would be impossible for speculators to hold valuable natural opportunities like urban real estate unused or only partly used. George claimed this would have many benefits, including the reduction or removal of tax burdens from poorer neighborhoods and agricultural districts; the removal of a multiplicity of taxes and expensive obsolete government institutions; the elimination of corruption, fraud, and evasion in the collection of taxes; the enablement of true free trade; the destruction of monopolies; the elevation of wages to the full value of labor; the transformation of labor saving inventions into blessings for all; and the equitable distribution of comfort, leisure, and other advantages that are made possible by an advancing civilization.[27]

Sources of economic rent and related policy interventions

Income flow resulting from payments for restricted access to natural opportunities or for contrived privileges over geographic regions is called [28][29]

Henry George shared the goal of modern Georgists to socialize or dismantle rent from all forms of land monopoly and legal privilege. However, George focused mainly on his preferred policy tool known as citizen's dividend or just replacing other taxes); but all agree that land rent should be recovered from its private recipients.

Compulsory fines and fees related to land rents are the most common Georgist policies, but some geoists prefer voluntary value capture systems that rely on methods such as non-compulsory or self-assessed location value fees, community land trusts,[63] and purchasing land value covenants.[64][65][66][67][68]

Some geoists believe that partially compensating landowners is a politically expedient compromise necessary for achieving reform.[69][70] For similar reasons, others propose capturing only future land value increases, instead of all land rent.[71]

Though Georgism has historically been viewed as a radically

  • Robert Schalkenbach Foundation

External links

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  4. ^ Gaffney, Mason, and Harrison, Fred (1994). The Corruption of Economics. London: Shepheard-Walwyn. ISBN 978-0-85683-244-4
  5. ^ Hudson, Michael; Feder, Kris; and Miller, George James (1994). A Philosophy for a Fair Society. Shepheard-Walwyn, London. ISBN 978-0-85683-159-1.
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  9. ^ a b Land Value Taxation: An Applied Analysis, William J. McCluskey, Riël C. D. Franzsen
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  13. ^ The Forgotten Idea That Shaped Great U.S. Cities by Mason Gaffney & Rich Nymoen, Commons magazine,October 17, 2013.
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  17. ^ http://earthsharing.ca/page/poverty
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  19. ^ – "Introduction: The Problem of Poverty Amid ProgressProgress and Poverty
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  22. ^ Foldvary, Fred E. "Geo-Rent: A Plea to Public Economists". Econ Journal Watch (April 2005)[1]
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  32. ^ a b Mattauch, Linus; Siegmeier, Jan; Edenhofer, Ottmar; Creutzig, Felix (2013) : Financing Public Capital through Land Rent Taxation: A Macroeconomic Henry George Theorem, CESifo Working Paper, No. 4280 http://www.econstor.eu/bitstream/10419/77659/1/cesifo_wp4280.pdf
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  38. ^ Address delivered on 18 February 1884 at the City Hall, Glasgow
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  45. ^ "A modern counterpart to the nineteenth century focus on land can be found in the twentieth century concern with the establishment of intellectual property rights that fence off a portion of the creative commons in order to construct temporary monopolies."
  46. ^ Fox, Stephen R. The American Conservation Movement: John Muir and His Legacy. Madison, WI: U of Wisconsin, 1985.
  47. ^ a b c Daly, Herman E., and Joshua C. Farley. Ecological Economics: Principles and Applications. Washington: Island, 2004.
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  59. ^ Socialism, Capitalism, and Geoism – by Lindy Davies
  60. ^ Introduction to Earth Sharing,
  61. ^ Geonomics in a Nutshell
  62. ^ Geoism and Libertarianism by Fred Foldvary
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  66. ^ http://www.cooperativeindividualism.org/wrigley-adrian_location-value-covenants-2010-06.pdf
  67. ^ http://www.sfrgroup.org/Home/location-value-covenants
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  69. ^
  70. ^
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  73. ^
  74. ^ Fairhope Single Tax Corporation
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  77. ^ The American Journal of Economics and Sociology, vol. 62, 2003, p. 615
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  83. ^ a b Karl Marx – Letter to Friedrich Adolph Sorge in Hoboken
  84. ^ 14 Gronlund and other Marxists – Part III: nineteenth-century Americas critics | American Journal of Economics and Sociology, The | Find Articles at BNET
  85. ^ Critics of Henry George
  86. ^ Blaug, Mark. Interview in Andelson, Robert V. Critics of Henry George: An Appraisal of Their Strictures on Progress and Poverty. Blackwell Publishing. 1979. p. 686.
  87. ^
  88. ^ http://www.psmag.com/politics/this-land-is-your-land-3392 "urban economics models actually do suggest that Georgist taxation would be the right approach at least to finance city growth."/
  89. ^ Mason Gaffney, (2009) "The hidden taxable capacity of land: enough and to spare", International Journal of Social Economics, Vol. 36 Iss: 4, pp. 328 - 411
  90. ^
  91. ^ Steven, Cord, "How Much Revenue would a Full Land Value Tax Yield? Analysis of Census and Federal Reserve Data." American Journal of Economics and Sociology 44 (3) (July 1985), pages 279-93
  92. ^ Steven Cord, "Land Rent is 20% of U.S. National Income for 1986," Incentive Taxation, July/August 1991, pages 1-2.
  93. ^ Miles, Mike. 1990. "What Is the Value of all U.S. Real Estate?" Real Estate Review 20 (2)(Summer): 69-75.
  94. ^ Nicolaus Tideman and Florenz Plassman, "Taxed Out of Work and Wealth: The Costs of Taxing Labor and Capital," in The Losses of Nations: Deadweight Politics versus Public Rent Dividends (London: Othila Press, 1988), pages 146-174.
  95. ^
  96. ^
  97. ^
  98. ^ "Microeconomics"; N. Gregory Mankiw, Mark P. Taylor – 2006 – 474 pages
  99. ^
  100. ^ Hayek wrote, "It was a lay enthusiasm for Henry George which led me to economics."
  101. ^ Brown, H. G. "A Defense of the Single Tax Principle." The ANNALS of the American Academy of Political and Social Science 183.1 (1936): 63-69.
  102. ^ Harter, Lafayette G. John R. Commons, His Assault on Laissez-faire. Corvallis: Oregon State UP, 1962. Pages 21, 32, 36, 38.
  103. ^ "Two Centuries of Economic Thought on Taxation of Land Rents." In Richard Lindholm and Arthur Lynn, Jr., (eds.), Land Value Taxation in Thought and Practice. Madison: Univ. of Wisconsin Press, 1982, pp. 151-96.
  104. ^ "After reading Henry George's Progress and Poverty," Commons "became a single-taxer."
  105. ^
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  107. ^
  108. ^
  109. ^
  110. ^ Edenhofer writes, "Extending and modifying the tenet of georgism, we propose that this insight be called hypergeorgism." "From a historical perspective, our result may be closer to Henry George’s original thinking than georgism or the neoclassical Henry George Theorems."
  111. ^
  112. ^
  113. ^ Fred Foldvary's website
  114. ^ Mason Gaffney's homepage
  115. ^
  116. ^ Airlie Worrall, The New Crusade: the Origins, Activities and Influence of the Australian Single Tax Leagues, 1889–1895 (M.A. thesis, University of Melbourne, 1978).
  117. ^ Andelson Robert V. (2000). Land-Value Taxation Around the World: Studies in Economic Reform and Social Justice Malden. MA:Blackwell Publishers, Inc. p. 359.
  118. ^
  119. ^ Shoup, Donald C. "The Ideal Source of Local Public Revenue." Regional Science and Urban Economics 34.6 (2004): 753-84.
  120. ^
  121. ^ Quotes from Nobel Prize Winners Herbert Simon stated in 1978: "Assuming that a tax increase is necessary, it is clearly preferable to impose the additional cost on land by increasing the land tax, rather than to increase the wage tax – the two alternatives open to the City (of Pittsburgh). It is the use and occupancy of property that creates the need for the municipal services that appear as the largest item in the budget – fire and police protection, waste removal, and public works. The average increase in tax bills of city residents will be about twice as great with wage tax increase than with a land tax increase."
  122. ^ Herbert Simon. (2014). The Famous People website. Retrieved 12:59, Oct 30, 2014, from http://www.thefamouspeople.com/profiles/herbert-simon-293.php.
  123. ^
  124. ^
  125. ^
  126. ^ Bill Vickrey – In Memoriam
  127. ^
  128. ^ Barker, Charles A., 1955. Henry George. New York: Oxford University Press
  129. ^
  130. ^ http://www.cooperativeindividualism.org/churchill-winston_mother-of-all-monopolies-1909.html
  131. ^
  132. ^
  133. ^
  134. ^
  135. ^ The Life of Henry George, Part 3 Chapter X1
  136. ^
  137. ^ "Hughes, William Morris (Billy) (1862–1952)". Australian Dictionary of Biography: Online Edition.
  138. ^
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  142. ^
  143. ^ a b c
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  148. ^
  149. ^ Gaynor, William Jay. Some of Mayor Gaynor's Letters and Speeches. New York: Greaves Pub., 1913. 214-21. https://books.google.com/books?id=-7kMAAAAYAAJ&pg=PA219#v=onepage&q&f=false
  150. ^ Hardie states, "I was a very enthusiastic single-taxer for a number of years."
  151. ^ Howe, Frederic C. The Confessions of a Reformer. Kent, OH: Kent State UP, 1988.
  152. ^ Arcas Cubero, Fernando: El movimiento georgista y los orígenes del Andalucismo : análisis del periódico "El impuesto único" (1911–1923). Málaga : Editorial Confederación Española de Cajas de Ahorros, 1980. ISBN 84-500-3784-0
  153. ^ "Single Taxers Dine Johnson". New York Times May 31, 1910.
  154. ^ "Henry George". Ohio History Central: An Online History of Ohio History.
  155. ^
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  160. ^
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  162. ^ a b
  163. ^
  164. ^ Brandeis said, "I find it very difficult to disagree with the principles of Henry George... I believe in the taxation of land values only."
  165. ^ How to Abolish Unfair Taxation: An Address Before a Los Angeles Audience, Delivered March 1913 https://books.google.com/books/about/How_to_Abolish_Unfair_Taxation.html?id=rlOFHAAACAAJ
  166. ^
  167. ^
  168. ^ Beth Shalom Hessel. "Field, Sara Bard"; http://www.anb.org/articles/15/15-00220.html American National Biography Online April 2014. Access Date: Sun Mar 22 2015 14:24:04 GMT-0700 (Pacific Daylight Time)
  169. ^ Lane, Fintan. The Origins of Modern Irish Socialism, 1881–1896.Cork University Press, 1997 (pp. 79, 81).
  170. ^
  171. ^
  172. ^ Leubuscher, F. C. (1939). Bolton Hall. The Freeman. January issue.
  173. ^
  174. ^
  175. ^ Holmes said, "The passing years have only added to my conviction that Henry George is one of the greatest of all modern statesmen and prophets."
  176. ^
  177. ^ Caves, Roger W. Encyclopedia of the City. Abingdon, Oxon, OX: Routledge, 2005.
  178. ^ Marsh, Benjamin Clarke. Lobbyist for the People; a Record of Fifty Years. Washington: Public Affairs, 1953.
  179. ^
  180. ^
  181. ^ Jorgensen, Emil Oliver. The next Step toward Real Democracy: One Hundred Reasons Why America Should Abolish, as Speedily as Possible, All Taxation upon the Fruits of Industry, and Raise the Public Revenue by a Single Tax on Land Values Only. Chicago, IL: Chicago Singletax Club, 1920.
  182. ^ a b Gorgas, William Crawford, and Lewis Jerome Johnson. Two Papers on Public Sanitation and the Single Tax. New York: Single Tax Information Bureau, 1914. https://books.google.com/books?id=v3NHAAAAYAAJ
  183. ^ a b Ware, Louise. George Foster Peabody, Banker, Philanthropist, Publicist. Athens: U of Georgia, 1951. http://dlg.galileo.usg.edu/ugapressbks/pdfs/ugp9780820334561.pdf
  184. ^
  185. ^
  186. ^
  187. ^ "It would be far easier to levy a "single tax," basing it upon land values." "It is because [...] a single land tax would prove to be the very essence of equity, that l advocate it.
  188. ^
  189. ^
  190. ^ Thomas Spence was a self-taught militant who believed that the land had been stolen from the people and should be returned to them. This idea was the corner stone of his Plan. http://thomas-spence-society.co.uk/2.html
  191. ^
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  197. ^
  198. ^ a b c
  199. ^ https://www.youtube.com/watch?v=vviBboUXhuA Fred Harrison speaks at ALTER Spring Conference 2014
  200. ^
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  202. ^
  203. ^
  204. ^ Harrison, F. (May–June 1989). "Aldous Huxley on 'the Land Question'".
  205. ^
  206. ^ Lora, Ronald; Longton, William Henry, eds. (1999). The Conservative Press in Twentieth-century America. Greenwood Publishing, Inc. p. 310. "Thus, the Freeman was to speak for the great tradition of classical liberalism, which [Albert Jay Nock and Francis Nielson] were afraid was being lost, and for the economics of Henry George, which both men shared."
  207. ^
  208. ^ Sinclair was an active georgist but eventually gave up on explicitly advocating the reform because, "Our opponents, the great rich bankers and land speculators of California, persuaded the poor man that we were going to put all taxes on this poor man's lot."
  209. ^
  210. ^ A Great Iniquity.. Leo Tolstoy once said of George, "People do not argue with the teaching of George, they simply do not know it".
  211. ^
  212. ^ Wood had "strong leanings toward the single-tax theory of Henry George".
  213. ^
  214. ^ Buckly says, "The location problem is, of course, easily solved by any Georgist, and I am one."
  215. ^
  216. ^ a b
  217. ^
  218. ^ Kinsley reiterates that George is his favorite economist and that land taxes are the best source of revenue.
  219. ^ In The New Republic (February 12, 1992) Kinsley advocates removing all taxes and collecting land rent instead.
  220. ^
  221. ^
  222. ^
  223. ^ https://twitter.com/dylanmatt/status/414149160775204864 Dylan Matthews's verified account states, "I think we've both been Georgists for a while now."
  224. ^
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  226. ^
  227. ^
  228. ^ https://twitter.com/iddqkfa/status/468204465057566720
  229. ^
  230. ^
  231. ^ Miller, Joseph Dana (ed.), 1917. Single Tax Year Book. NY: Single Tax Review Publishing Company
  232. ^
  233. ^
  234. ^ https://twitter.com/mattyglesias/status/313754546486796288 "WSJ story on Georgism fails to note that it’s clearly correct"
  235. ^ Wineapple, Brenda. Sister Brother: Gertrude and Leo Stein. Lincoln: U of Nebraska, 2008.
  236. ^ a b Mills, Allen. "Single Tax, Socialism and the Independent Labour Party of Manitoba: The Political Ideas of F.J. Dixon and S.J. Farmer." Labour / Le Travail 5 (1980): 33-56. JSTOR. Web. 04 Dec. 2014.
  237. ^
  238. ^ Muse return with new album The Resistance "Sure, he has already launched into a passionate soliloquy about Geoism (the land-tax movement inspired by the 19th-century political economist Henry George)".
  239. ^ Co-founder of the Henry George Club, Australia.
  240. ^
  241. ^
  242. ^
  243. ^
  244. ^ Author of "The New Colossus", on the Statue of Liberty, and the poem "Progress and Poverty", named after George's book, of which she said, “The life and thought of no one capable of understanding it can be quite the same after reading it.”
  245. ^ Lazarus "supported Henry George's single tax".
  246. ^
  247. ^
  248. ^
  249. ^
  250. ^
  251. ^ "Henry George, The Scholar" – A Commencement Address Delivered by Francis Neilson at the Henry George School of Social Science, June 3, 1940.
  252. ^
  253. ^ McQueen, Humphrey. A New Britannia. St. Lucia, Qld.: U of Queensland, 2004.
  254. ^
  255. ^
  256. ^
  257. ^ Carlson, Allan. The New Agrarian Mind: The Movement Toward Decentralist Thought in Twentieth-Century America Transaction Publishers, 2004 (p. 51).
  258. ^
  259. ^
  260. ^
  261. ^ http://www.wealthandwant.com/HG/PP/Dewey_Appreciation_HG.html
  262. ^ Onken, Werner. "The Political Economy of Silvio Gesell: A Century of Activism." American Journal of Economics and Sociology 59.4 (2000): 609-22. Web. 16 Aug. 2014.
  263. ^
  264. ^
  265. ^
  266. ^
  267. ^
  268. ^
  269. ^
  270. ^
  271. ^ http://www.cooperativeindividualism.org/russell-bertrand_admiration-for-henry-george-1960.jpg Letter addressed to a Mr. Krumreig
  272. ^ Vallentyne, Peter. Left-libertarianism: A Primer. In Vallentyne, Peter; Steiner, Hillel (2000). "Left-libertarianism and Its Critics: The Contemporary Debate". Houndmills, Basingstoke, Hampshire: Palgrave Publishers Ltd. "Georgist libertarians—such as eponymous George (1879, 1892), Steiner (1977, 1980, 1981, 1992, 1994), and Tideman (1991, 1997, 1998)—hold that agents may appropriate unappropriated natural resources as long as they pay for the competitive value of the rights they claim."
  273. ^
  274. ^ Two lettrs written in 1934 to Henry George's daughter, Anna George De Mille. In one letter Einstein writes, "The spreading of these works is a really deserving cause, for our generation especially has many and important things to learn from Henry George."
  275. ^
  276. ^ Henry Ford says, "[. . .]every American family can have a piece of land. We ought to tax all idle land the way Henry George said — tax it heavily, so that its owners would have to make it productive"
  277. ^
  278. ^
  279. ^ Justice for Mumia Abu-Jamal
  280. ^
  281. ^
  282. ^
  283. ^ Magie invented The Landlord's Game, predecessor to Monopoly
  284. ^
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  286. ^
  287. ^
  288. ^
  289. ^
  290. ^ Wallace described Progress and Poverty as “Undoubtedly the most remarkable and important book of the present century.”
  291. ^

References

See also

Journalists

Philosophers

Economists

Heads of government

Notable Georgists

[100]

[99]

[97]

[95][94][93][92][91][90][89] An early criticism of Georgism was that it would generate too much public revenue and lead to unwanted growth of government.

Contemporaries such as [86]

[32] George argued that the rent of land increased faster than wages for labor because the supply of land is fixed. Modern economists, including [85] George has also been accused of exaggerating the importance of his "all-devouring rent thesis" in claiming that it is the primary cause of poverty and injustice in society.

[82] Marx argued that, "The whole thing is... simply an attempt, decked out with socialism, to save capitalist domination and indeed to establish it afresh on an even wider basis than its present one."[83] Marx also criticized the way land value tax theory emphasizes the value of land, arguing that, "His fundamental dogma is that everything would be all right if ground rent were paid to the state."[83] Fred Harrison replies to these Marxist objections in "Gronlund and other Marxists – Part III: nineteenth-century Americas critics", American Journal of Economics and Sociology.[84]

[81]

Criticism

[80] Various organizations still exist that continue to promote the ideas of Henry George. According to the

Institutes and organizations

Georgist ideas were also adopted to some degree in Altoona, Pennsylvania, which only taxes land value.

Henry George School of Social Science in New York

The colony existed as a German protectorate from 1898 until 1914, when seized by Japanese and British troops. In 1922 the territory was returned to China. [75] The German protectorate of

Several communities were also initiated with Georgist principles during the height of the philosophy's popularity. Two such communities that still exist are Frank Stephens and Will Price, and Fairhope, Alabama, which was founded in 1894 by the auspices of the Fairhope Single Tax Corporation.[74]

Communities

In [73]

In the UK in 1909, the Liberal Government included a land tax as part of several taxes in the People's Budget aimed at redistributing wealth (including a progressively graded income tax and an increase of inheritance tax). This caused a crisis which resulted indirectly in reform of the House of Lords. The budget was passed eventually—but without the land tax. In 1931, the minority Labour Government passed a land value tax as part III of the 1931 Finance act. However, this was repealed in 1934 by the National Government before it could be implemented.

Georgist ideas heavily influenced the politics of the early 20th century. Political parties that were formed based on Georgist ideas include the Single Tax League.

Henry George, whose writings and advocacy form the basis for Georgism

Influence

in "Critical reception") Milton Friedman (See [72] and [61],geonomics [60],Earth Sharing, in Greek) deliberately ambiguous. The terms earth (geo with the meaning of [59][16],geoism. While Henry George was well known throughout his life, he has been largely forgotten by the public and the idea of a single tax of land predates him. Some now prefer the term Georgist Some modern proponents are dissatisfied with the name

Most early advocacy groups described themselves as Single Taxers, and George reluctantly accepted "single tax" as an accurate label for the movement's main political goal—the replacement of all unjust or inefficient taxes with the capture of land-rents, primarily using a environmentalism, while others emphasize its egalitarian free market philosophy; utilitarians and urbanists emphasize the economic and social benefits of efficiently utilizing land.

Synonyms and variants

In practice, the elimination of all other taxes implies a very high land value tax, higher than any currently existing land tax. Introducing a high land value tax that is greater than the value of existing taxes would cause the price of land titles to eventually decrease. George did not believe landowners should be compensated, and described the issue as being analogous to compensation for former slave owners. Other geoists disagree on the question of compensation; some advocate complete compensation while others support only enough compensation required to achieve Georgist reforms. Geoists have also long differed from George as the the degree of rent capture needed. Historically, those who advocated for public rent capture only high enough to replace other taxes were known supporters of single tax limited.

The revenue can allow the reduction or elimination of taxes), greater public investment/spending, or the direct distributed of funds to citizens as a pension or basic income/citizen's dividend[29][57][58]

Revenue uses

Since ecologists are primarily concerned with conservation, they tend to put less emphasis on the issue of equitably distributing pollution rents generated from those conservation efforts are not captured by polluters and are instead used for public purposes or to compensate those who suffer the negative effects of pollution. Ecological economists advocate similar pollution restrictions but, placing conservation first, might be willing to grant private polluters the privilege to capture pollution rents. To the extent that ecological economists share the geoist view of social justice, they would advocate auctioning pollution quotas instead of giving them away for free.[47] This distinction can be seen clearly in the difference between basic cap and trade and the geoist variation, cap and share, a proposal to auction temporary pollution permits, with rents going to the public, instead of giving pollution privilege away for free to existing polluters or selling perpetual permits.[55][56]

[54], a market oriented branch of geoism, tends to take a direct stance against what it perceives as burdensome regulation and would like to see auctioned pollution quotas or taxes replace most command and control regulation.Geolibertarianism [53][29] Georgism is related to the school of

Pollution degrades the value of what Georgists consider to be [28][50][51]

The early conservationist movement of the land value tax as a means of freeing or rewilding unused land and conserving nature by reducing urban sprawl.[47][48][49]

Georgism and environmental economics

Where free competition is impossible, such as telegraphs, water, gas, and transportation, George wrote, "[S]uch business becomes a proper social function, which should be controlled and managed by and for the whole people concerned." Georgists were divided by this question of [27]

  • extractable resources (minerals and hydrocarbons)[36][37]
  • severables (forests and stocks of fish)[29][38][39]
  • extraterrestrial domains (geosynchronous orbits and airway corridor use)[34][35]
  • legal privileges tied to location (taxi medallions, billboard and development permits, or the monopoly of electromagnetic frequencies)[34][35]
  • restrictions/taxes on pollution or [28][34][35]
  • Right-of-way (transportation) used by railroads, utilities, and internet service providers[40][41][42]
  • issuance of [28][43]
  • privileges that are less location dependent but that still exclude others from natural opportunities (patents)[44][45]

Common ground rent is still the primary focus of Georgists because of its large value and the known diseconomies of misused land. However, there are other sources of rent that are theoretically analogous to ground-rent and are highly debated topics within Georgism. The following are some sources of economic rent.[33][34][35]

[32] In

Many people have observed that privately created wealth is socialized via the tax system (e.g., through income and sales tax), while socially created wealth in land values are privatized in the the price of land titles and bank mortgages. The opposite would be the case if land rent replaced taxes on labor as the main source of public revenue; socially created wealth would become available for use by the community, while the fruits of labor would remain private.[17] classical arguments in favor of effecting this reform in land title and tax policy.

A supply and demand diagram showing the effects of land value taxation. Note that the burden of the tax is entirely on the land owner, and there is no deadweight loss.

Main tenets

Contents

  • Main tenets 1
    • Economic properties 1.1
    • Sources of economic rent and related policy interventions 1.2
    • Georgism and environmental economics 1.3
    • Revenue uses 1.4
  • Synonyms and variants 2
  • Influence 3
    • Communities 3.1
    • Institutes and organizations 3.2
  • Criticism 4
  • Notable Georgists 5
    • Economists 5.1
    • Heads of government 5.2
    • Other political figures 5.3
    • Activists 5.4
    • Authors 5.5
    • Journalists 5.6
    • Artists 5.7
    • Philosophers 5.8
    • Other 5.9
  • See also 6
  • References 7
  • External links 8

[16][15], associated with the idea of raising public revenue exclusively from land and privileges, but the term is considered a misnomer because Georgists do not consider their proposals to be true taxes and they usually support multiple funding mechanisms. In classical and Georgist economics, the term 'land' is defined as all locations, natural opportunities, resources, physical forces, and government privileges over economic domains, which is closely related to the concept of Single Taxers Political parties, institutions and communities were founded based on Georgist principles during that time. Early followers of George's philosophy called themselves [13] Georgist ideas were popular and influential.

The philosophical basis of Georgism dates back to several early proponents such as Progress and Poverty.[12]

Economists since [8] Land value capture would reduce economic inequality, increase wages, remove incentives to misuse real estate, and reduce the vulnerability that economies face from credit and property bubbles.[9]

Georgists argue that taxing economic rent is basic income or citizen's dividend.

Georgism is concerned with the just distribution of economic rent caused by natural monopolies, pollution, and the control of commons, including title over natural resources and other contrived privileges (e.g., intellectual property). Any natural resource, which is inherently limited in supply, can generate economic rent, but the classical and most significant example of 'land monopoly' involves the extraction of common ground rent from valuable urban locations.

[5][4]

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