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The LVTC blog, by Henry Law

The comments in the LVTC Blog are a personal view of our Hon. Secretary Henry Law and do not necessarily reflect the official policy of the Campaign.

This is a place for personal observations and comments on politics, economics, current affairs, on-going discussions on the potential for LVT to remedy some of the current ills, and the impact on Society of any of the above. 

Please read and enjoy, and feel free to respond to Henry if you have any thing you would like to add.


Why the Left is going nowhere

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These thoughts are prompted by an article by George Monbiot in today's Guardian.
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Bank regulation is not enough

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Calls for regulation of the banks are back on the agenda. It will not work. Regulation does not deal with the underlying problem: is the abuse of credit through its use for land purchase. The land is usually inside some kind of package which makes it difficult to understand that it is actually land: assets, homes, equities or other securities.

The fundamental purpose of credit is to finance the productive processes of the economy. When it is used for land purpose, no production has taken place. A land title has been transferred and that is all. The purchase can be thought of as a release fee ie a ransom payment.
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Happy Jubilee

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The Campaign, of course, has no view on the Monarchy, so this is a personal one. Monarchy and land are, however, intimately connected so there is every justification for discussing the subject here.
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Cornish Patsy tax row smoulders on

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I am enjoying this row. It shows how idiotic the tax system has become.
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Was Cardinal Manning a Georgist?

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George Frederic Watts: Cardinal Manning

(1808-1892) was the Roman Catholic Archbishop of Westminster from 1865 until his death, and was created Cardinal in 1875. He is best known outside church circles for his intervention and mediation in the 1888 dockers' strike.

Now here is a mystery.
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LVT would benefit wealthy landowners

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LVT would benefit wealthy landowners, according to Liberal Democrat Richard Dean, one of the commentators on a piece in Liberal Democrat Voice. Dean has acted as main protagonist for the "antis", but his idea that LVT would help wealthy landowners suggests the workings of an original mind and comes as news to us. Can we expect a cheque in the post from Lord Marchmain at any moment? If we had enough to pay for a parliamentary lobbyist and a full blown media campaign, we could expect LVT within months.
 

Bank of England deputy advocates monetary recklessness

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"A highly stimulatory monetary stance was needed to sustain demand", writes Charles Bean, Deputy Governor of the Bank of England, in an article in the FT.

The purpose of money is (1) to facilitate the exchange of goods and services and (2) to enable people to retain their claims on wealth over a period of time - to provide "a store of value".

Money can be used as a tool of economic management but this is an abuse and prevents it from performing its principal functions. "Stimulus" is nothing more than a means of transferring claims on wealth from creditors to debtors. It is legalised debasement of the currency.

Governments round the world indulge in the practice because, amongst other things, it puts off the time when they must implement effective tax systems that do not give rise to deadweight losses.

It is frightening that someone in such a high position should be advocating this policy.

 


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