26 Nov 2022 10:21 am
My main issue with lvt is simply that it is not the only, or even the main, source of 'free wealth'.
Banking is also, for example. Bankers have the same type of influence on the economy as landlords do...but I would argue worse.
The increase in transportation technology, which did not exist in Henry George's time, has reduced the relative value of land.
Indeed wealthy people today are people who are not tied to any land at all...not even to any country.
At least a land owner...who owns property in a particular state...has an intrinsic motive for that state to prosper.
A cosmopolitan banker does not.
For that rwason..although I agree that all forms of rent seeking are harmful, I think focusing on land is a deflection.
Banking is also, for example. Bankers have the same type of influence on the economy as landlords do...but I would argue worse.
The increase in transportation technology, which did not exist in Henry George's time, has reduced the relative value of land.
Indeed wealthy people today are people who are not tied to any land at all...not even to any country.
At least a land owner...who owns property in a particular state...has an intrinsic motive for that state to prosper.
A cosmopolitan banker does not.
For that rwason..although I agree that all forms of rent seeking are harmful, I think focusing on land is a deflection.