Alongside Carl Menger and William Stanley Jevons, the French economist Marie-Esprit-Léon Walras was a founding father of the Marginalist Revolution. The late 19th century development of marginalism by these three economists marked the transition from classical economics to modern, neoclassical economics. Among them, Walras is perhaps the most appreciated in the modern day. As the historian of economic thought Mark Blaug
great intellectual background! Now let's do it! Please join up with us for land value tax implementation projects at https://theiu.org join our newsletter for starters!
Thanks for a great series on these great economists. I'm writing on the housing problem that now includes the following text in part stimulated by a quick read of your last three posts.
The economist Stiglitz wrote “A tax on the return to land, and even more so, on the capital gains from land, would reduce inequality and, by encouraging more investment into real capital, actually enhance growth."
At the root of the problem (of access to shelter) is the tax holiday on capital gains due to the appreciation in the value of land that has been enshrined in Australia. A failure to tax appreciation in the value of property that is unrelated to the replacement value of the house as an asset, is at the root of the problem of the growing inequity in the distribution of wealth that is the flip side of inequity in access to shelter.
To the extent that the acquisition of shelter binds us to a particular location our opportunities are diminished, and labour productivity suffers.
To the extent that we are unable to exercise our entrepreneurial instincts by the separation of our residence from our work that is the consequence of single use zoning we hinder productivity and entrain inconvenience and unnecessary expense.
To the extent that the automobile limits our children’s access to safe common space we are storing up trouble for the future.
What to do about this? This is not about fair. This is not about proper. Don't expect politicians to be nice. This is about power and profits and getting back into office. It’s a rat race. You have got to come to terms with that. Tobacco, alcohol and mind-altering drugs are not an alternative. What this means is that you have to take an interest in politics and ask your politicians the hard questions. This is serious stuff, and you must keep your wits about you, be frugal and get organized. Lose the plot and the dogs will be nipping at your heels.
Don’t be distracted in your quest for equity by joining the navy and going to help the US in the Red Sea. Don’t worry about the non-problem of climate change. Forget about your carbon footprint. Focus on the ‘in your face’ problems here at home.
great intellectual background! Now let's do it! Please join up with us for land value tax implementation projects at https://theiu.org join our newsletter for starters!
Thanks for a great series on these great economists. I'm writing on the housing problem that now includes the following text in part stimulated by a quick read of your last three posts.
The economist Stiglitz wrote “A tax on the return to land, and even more so, on the capital gains from land, would reduce inequality and, by encouraging more investment into real capital, actually enhance growth."
At the root of the problem (of access to shelter) is the tax holiday on capital gains due to the appreciation in the value of land that has been enshrined in Australia. A failure to tax appreciation in the value of property that is unrelated to the replacement value of the house as an asset, is at the root of the problem of the growing inequity in the distribution of wealth that is the flip side of inequity in access to shelter.
To the extent that the acquisition of shelter binds us to a particular location our opportunities are diminished, and labour productivity suffers.
To the extent that we are unable to exercise our entrepreneurial instincts by the separation of our residence from our work that is the consequence of single use zoning we hinder productivity and entrain inconvenience and unnecessary expense.
To the extent that the automobile limits our children’s access to safe common space we are storing up trouble for the future.
What to do about this? This is not about fair. This is not about proper. Don't expect politicians to be nice. This is about power and profits and getting back into office. It’s a rat race. You have got to come to terms with that. Tobacco, alcohol and mind-altering drugs are not an alternative. What this means is that you have to take an interest in politics and ask your politicians the hard questions. This is serious stuff, and you must keep your wits about you, be frugal and get organized. Lose the plot and the dogs will be nipping at your heels.
Don’t be distracted in your quest for equity by joining the navy and going to help the US in the Red Sea. Don’t worry about the non-problem of climate change. Forget about your carbon footprint. Focus on the ‘in your face’ problems here at home.