Thursday, 7 April 2016

YPP meet-up tomorrow Friday 8 April

Tomorrow, 5.20 onwards, The Brewmaster, Leicester Square Tube Exit 1, turn left and left again into the alleyway (St Martin's Court).

We put a yellow YPP leaflet on the table so that you can recognise us.

Topics: A submission to Islington council on LVT and our new emblem (El Comm decided to reject the original one after four years for reasons best known to themselves)…


  1. “Hudson (2010: 40) is critical of Georgists in their approach to financial capital. He wrote:

    For real estate investors in today’s world, the motto is: “Rent is for paying interest.” What the tax collector relinquishes is “freed” to be pledged to banks—for loans to buy rent-yielding property. But Georgists have deemed the analysis of finance and Wall Street to be a socialist concern, and emulate George’s own conflation of physical and financial capital. There has been no attempt even to trace the incidence of land-price gains (“capital” gains), and many Georgists view such gains as legitimate returns to capital rather than as financial capitalizations of land rent bid up on credit. Not even the post-2002 real estate bubble has spurred research and publication along these lines. The failure to place land rent and other forms of economic rent in its macroeconomic setting has blocked a serious discussion of land-value taxation from academia and congressional law making, and hence from playing the popular role that it did in George’s own day.

    One has to concur with that conclusion. The obsession with the single LVT as a saviour is in denial of the causes of recessions and the the role that financial capital plays in destabilising economic systems. A LVT alone will do little to resolve those problems.


    There is no inherent incompatibility with the idea of levying a LVT to replace or supplement some other taxes and the insights provided by MMT.

    But the idea of a Single Tax is not supportable and the alliance that Georgists have forged with libertarian movements that deny the central role of government in creating the essential conditions for full employment is also to be rejected.

    Reliance on an unfettered private market will not create prosperity for all.

    Modern-day followers of Henry George tend to align with these ‘free market’ movements, which Hudson (2010: 39) notes promote an “anti-tax ideology”.”

  2. Dudly, Hudson is a top bloke, but he is tilting at windmills, he is misrepresenting "Georgism" in its modern sense.

    Crudely speaking, Finance = Wall Street = rent seeking = untaxed land ownership = patents and monopoly rights = govt granted privileges. They are all the same thing, let's not bicker about which symptom is worse than the others.