Okay... Partially at the request of Sam Oldfield I am going to troll this group. What I mean by that is that I am going to do my best to successfully argue against a Land Value Taxation even though you all know I support it. This could be a useful opportunity for all of us to hone our rhetoric. So heres my first post in character: === Land Value Tax keeps getting brought up as an economic panacea. Even if it were possible to efficiently allocate, it is predicated upon a very old economic theory erroneously referred to as Riccardos law. If this law were in fact accurate, one would be able to demonstrate it empirically. However no such result seems to exist. Furthermore, from a purely rational perspective it doesnt make sense. Obviously it would if there was a single crop, and the landlord was one person, but the /sector wise/ supply of land is /not/ fixed under competitive conditions. Since our economy happens involve many different industries, and since landlords compete with eachother to have the highest utilization, the consumer surplus is obviously proportional to the lands productivity.
Posted on: Wed, 14 Jan 2015 04:00:52 +0000
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