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Wealth and Want | |||||||
... because democracy alone is not enough to produce widely shared prosperity. | |||||||
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The
Land Problem
Lindy Davies: Land and Justice
Alanna Hartzok: Earth Rights Democracy: Public Finance based on Early Christian Teachings ... Perceptions of the causal
factors of these statistics and the
suffering
of so many who lack basic necessities in this wealthy country are most
often simplistic explanations - these people lack money and they lack
money because they lack jobs or their wages are too low, or housing
costs are too high. For those concerned about the growing wealth gap in
America and worldwide, and the resultant poverty, homelessness, hunger
and food insecurity, the dilemma usually bogs down into supply or
demand side efforts to find solutions. But the root cause is a
deeper injustice.
The primary cause of the enormous and growing wealth gap is that the land and natural resources of the earth are treated as if they are mere market commodities from which a few are allowed to reap massive private profits or hold land and resources out of use in anticipation of future profits. Henry George, the great 19th century American political economist and social philosopher, proposed a solution to a problem that too few understood at the time and too few understand today. Early Christian teachings drew upon deep wisdom teachings of the Jubilee justice tradition when they addressed this problem. The problem is the Land Problem. The Land Problem takes two primary forms: land price escalation and concentrated land ownership. As our system of economic development proceeds, land values rise faster than wages increase, until inevitably the price paid for access to land consumes increasing amounts of a worker's wages. In classical economics, this dilemma is called the "law of rent" and has been mostly ignored by mainstream economists. The predictability of the "law of rent" - that land values will continually rise - fuels frenzies of land speculation and the inevitable bust that follows the boom. A recent Fortune cover story informs us that there are big gains and huge risks in housing speculation in about 30 predominantly coastal markets that encompass 100 million people. Since 2000, home prices in New York, Washington, and Boston have surged 56% to 61%. Prices jumped 58% in Miami and Los Angeles and 76% in San Diego where the median home price county-wide is $582,000. The gap between home prices and fundamentals like job growth and incomes is greater than ever.[7] ... Read the whole article
Nic Tideman: The Shape of a World Inspired by Henry George How would the world look if its political
institutions were shaped by the conception of social justice advanced by
Henry George?
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Wealth
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www.wealthandwant.com
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... because democracy
alone hasn't yet led to a society in which all can
prosper
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