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| Wealth and Want | |||||||
| ... because democracy alone is not enough to produce widely shared prosperity. | |||||||
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Fiscal
Stimulus
Mason Gaffney: Neo-classical Economics as a Stratagem Against Henry George Georgist tax
policy makes jobs without inflation, and without deficits. "Fiscal
stimulus," in the shallow modern usage, is a euphemism for running
deficits, often with funny money. George's proposed land tax might be
called, rather, "true fiscal
stimulus." It stimulates
demand for labor by promoting employment; it precludes inflation as the
labor produces goods to match the new demand. It precludes deficits
because it raises revenue. That is its peculiar reconciliatory genius:
it stimulates private work and investing in the very process of raising
revenue. It is the only tax of any serious revenue potential
that does not bear down on and suppress production and exchange. As I
said, George takes two problems and composes them into one
solution.
... read the whole essay
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... because democracy
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