Land is a necessity for human existence and remains the original source of all wealth. Yet bankers, economists, and politicians have simplistically lumped land and capital together, so apparently, now they mean the same thing.
One of the great mysteries of modern economics is how little attention is paid to the role of land in economic activity. In particular, taxing land ownership as opposed to taxing the economic activity that takes place on it. Flick open an economics textbook, and you’ll find the idea of taxing land ownership based on its unimproved values – basically, the ‘raw’ land itself – seems unthinkable. Which is strange because the forefathers of modern economic theory, dating back to Adam Smith himself, had a very different attitude to land taxation.
Barrister and School Principal Ian Mason addressed the UN: One World One Wealth – Economics, Justice and the Rights of Nature. We ask him how to upgrade the dismal science.
Michael Hudson address the economic issues that now face everyone.
Wall Street analyst Michael Hudson explains how property tax could help rebuild infrastructures.