Monthly News Digest – April

EVENT: Register now!

Friday, May 19th, 9:00 am – Noon
22 East 30th Street, New York, NY 10016

We would like to invite you to an exciting event in New York City on how natural resource policy has created enormous environmental and social problems. Don’t miss the chance to be a part of this vital ethical and economic debate that will shape policy dialogue for years to come. You can also register to join the event via livestream. For further information email: alanna@centurylink.net


EARTH SHARING CLASSIC

Economic History Timeline

EarthSharing.org has compiled an interactive record of economic thought over the course of the past 500 years, from John Locke to Jeffrey Sachs on sharing the value of the earth.


IN THE NEWS

SNP conference backs call for land taxation to transform Scotland #SNP17

“In a historic step forward for the land reform movement in Scotland, the party’s spring conference unanimously backed calls for a tax on ownership to end the feudal ownership system that has endured in the country for centuries.”

“The amended motion said the government “must include exploring all fiscal options including ways of taxing the value of undeveloped land” in its gradual land reform programme.”

Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class

“These views largely depend on whether they view the One Percent as innovative, smart and creative, making wealth by helping the rest of society – or whether, as the great classical economists wrote, the wealthiest layer of the population consist of rentiers, mak
ing their income and wealth off the 99 Percent as idle landlords, monopolists and predatory bankers.”

“A case in point is the Scottish economist Angus Deaton, author of The Great Escape: Health, Wealth, and the Origins of Inequality. (2013). Elected President of the AEA in 2010, he was given the Nobel Economics Prize in 2015 for analyzing trends in consumption, income distribution, poverty and welfare in ways that cause no offense to the wealthy, and in fact treat the increasingly inequitable status quo as perfectly natural and in its own kind of mathematical equilibrium.”

‘Universal Basic Assets’ A new economic model that could save the other 99%

“The social instability caused by vast economic disparities is likely to only grow deeper under the pressures of climate change and automation.”

“We urgently need to design a new framework that delivers greater social and economic equity. Some economists and activists are proposing Universal Basic Income, a guaranteed minimum payment for everyone, as a way to ensure a guaranteed minimum for people to live on. We believe that a universal basic income is only the first step in making our economic system more equitable.”

“In designing Universal Basic Assets we take into account access to traditional physical and financial assets like land and money, as well as the growing pools of digital assets (data, digital currencies, reputations, etc.). We also recognize and assign value to exchanges we engage in as a part of maintaining the social fabric of our society but that do not currently carry with them monetary value (caring, creative output, knowledge generation, etc.).”

How to Fix San Francisco’s Housing Market

“The real problem is an emasculated housing market unable to absorb the new arrivals without shedding older residents. The only solution is to take supply off its leash and finally let it chase after demand.”

“Discretionary permitting limits how quickly the housing stock can grow. Land use restrictions can increase the price of housing by as much as 140% over construction costs. Relaxing–if not abolishing–these types of restrictions would be hugely beneficial.”

“The most realistic plan would be to retire San Francisco’s property tax in favor of a land tax and
make the change revenue-neutral. Considering the city’s property tax rate is barely over 1%, a revenue-neutral land tax probably wouldn’t deliver the sun, the stars, and the moon like it would at much higher levels. That said, it would still be an improvement over the existing property tax.”


Economist Josh Ryan-Collins: How Land Disappeared from Economic Theory

“Anyone who has studied economics will be familiar with the ‘factors of production’. The best known ‘are ‘capital’ (machinery, tools, computers) and ‘labour’ (physical effort, knowledge, skills). The standard neoclassical production function is a combination of these two, with capital typically substituting for labour as firms maximize their productivity via technological innovation.”

“But there has always been a third ‘factor’: Land. Neglected, obfuscated but never quite completely forgotten, the story of Land’s marginalization from mainstream economic theory is little known. But it has important implications. Putting it back in to economics, we argue in a new book, ‘Rethinking the Economics of Land and Housing’, could help us better understand many of today’s most pressing social and economic problems, including excessive property prices, rising wealth inequality and stagnant productivity.”

“Today’s economics textbooks – in particular microeconomics – slavishly follow the tenets of marginal productivity theory. Even progressive economists such as Thomas Piketty have fallen in to this trap. Once you strip out capital gains (mainly on housing), Piketty’s spectacular rise in the wealth-to-income ratio recorded in advanced economics in the last 30 years starts to look very ordinary.”


Utopian thinking: to ‘take back control’ of England, we must find out who owns it

“Understanding who owns this country has been a utopian project for at least a century and a half. In 1872, in an effort to disprove radicals’ claims that only a tiny elite dominated the landed wealth of the nation, Lord Derby – a major landowner himself – asked the government to undertake a proper survey. The Return of Owners of Land – or “Modern Domesday”, as it became known – was the first comprehensive assessment of land ownership in Britain since William the Conqueror’s swag list after the Norman conquest. But far from dousing the demands of the radical land reformers, the survey lit a fire under the issue.”

“So if the answer to who owns England isn’t available from existing public data, how to find out? Well, the Victorian land reformers did leave us one other legacy: the Land Registry, whose job it is to gradually register who owns all land in England and Wales. Yet 150 years after it was founded, it’s still not completed its task – around a fifth of all land remains unregistered. And though the Land Registry has thankfully just survived a government attempt to privatise it, it remains a very closed public service: you have to pay £3 just to find out who owns a single field. Paying to find out who owns the whole country would cost a fortune.”

“The government’s recent housing white paper heralded some welcome steps in this direction – announcing that the Land Registry would soon make freely available its datasets on land owned by UK companies and offshore firms. But that’s only a fraction of the total. Aristocratic families, who almost certainly still own the great majority of England, will be exempt – since their huge estates are invariably registered in an individual’s name, if they’re registered at all.”

Tax land, not labour – Dominic Frisby

“Each parcel of land in the UK is assessed for its potential annual rental value. Remote, rural farmland will have a low rental value. Prime city centre real estate will have a much higher rental value. A tax is then levied based as a percentage of the annual rental value of that land (in its unimproved state).”


GLOBAL EVENTS

Sacred Water, Profane Markets

Friday, May 19th, 9:00 am – Noon
22 East 30th Street, New York, NY 10016

Sponsored by the Robert Schalkenbach Foundation, the International Union for Land Value Taxation, & the American Journal of Economics and Sociology

This is an exciting event in New York City on how water and other resources have been poorly managed. Don’t miss the chance to be a part of this vital ethical and economic debate that will shape policy dialogue for years to come.

Seminar: Dog-Eat-Dog is Overvalued: Debunking the Wages Fund and Malthusian Theories

April 18 6:30pm
Henry George School of Social Science
5 W 19th Street Suite 2C
Organized by the Henry George School of New York

Bridging the Right-Left Divide

Thursday, July 27 to Monday, July 31, 2017
Hilton Garden Inn, O’Fallon, Illinois
Organized by the Council of Georgist Organizations

The 37th Conference of the Council of Georgist Organizations is sure to be an unmissable event. The conference is focused on networking, meeting old friends, recharging and enriching understanding. Speakers include Don Killoren, Andrew Theising, Erich Jacoby-Hawkins, Ted Gwartney, Gordon Abiama, Jeff Graubart, Nic Tideman, Karl Widerquist, Vitnarae Kang, Anthony Werner, Bill Batt, Brendan Hennigan, Dan Sullivan, John Kelly, Mike Curtis, Josh Vincent and Lindy Davies.

Housing Markets and the Fiscal Health of US Central Cities

April 17, 2017
2100 M Street NW, Washington D.C.
Organized by the Lincoln Land Institute

Cosponsored with the Urban Institute, this event will offer insights from two recent research projects funded by the John D. and Catherine T. MacArthur Foundation that explore the links between shocks to urban housing markets and central cities’ finances.

2017 Urban Economics and Public Finance Conference

May 5, 2017
Lincoln Institute of Land Policy
113 Brattle Street, Cambridge, MA

The economic growth and development of urban areas are closely linked to their revenue sufficiency and fiscal prospects. This research seminar offers a forum for new academic work on the interaction of these two fields.

Walking tour: Land, villains, and revolutionaries: a social movement history

Saturdays 9:00pm  
American Youth Hostel, 312 Mason Street 
Organized by the Henry George School of San Francisco

EVERY MONTH, SECOND TUESDAY

May 9: Illinois Is Not Broke
Organized by the Henry George School of Social Science Chicago


Join our Facebook discussion group.

To start discussing Land Value Tax (LVT), and other ways of making a difference in the world, join our discussion group on Facebook. Here, you can ask questions about Earth Sharing, LVT, ending poverty, and protecting the environment. You will be able to talk with professors and regular people in the larger Earth Sharing community. It is also a gateway to other discussion groups, a market place of ideas for making the world a better place.

We don’t necessarily endorse any of the viewpoints in these discussions on Facebook, but they are sure to make you think.


PROGRESS IN MARCH

EarthSharing.org website hits in March
32,235

Total email subscribers to date:
20,722

Dear Earth Sharers,

We hope you’ve enjoyed all of the content we’ve been producing. It’s truly a labor of love. We’re making a lot of progress, with 600-700 new newsletter subscribers each month. More than 20,000 of you have graciously allowed us into your lives.

Next month, we will be including links to our new segment on Stanford University Radio, KZSU, entitled The Henry George Program. We look forward to getting your reactions to the show and increasing your involvement in the cause to give everyone equal rights to the bounty of nature, something we believe is fundamental to ending poverty, saving the environment, and unleashing human progress.

Sincerely,

Jacob Shwartz-Lucas
EarthSharing.org
Robert Schalkenbach Foundation

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