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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.


LVT means a bigger cake

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Some critics of LVT argue that it just shifts the money around a bit, and nothing more. This is not so. Replacing existing taxes by a land tax actually does result in increased production and wealth creation. It does this in two ways.

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Marxism's fatal flaw

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Marx's analysis of capitalism is plain wrong. Marx lumps together land and capital and calls them both "land". A disastrous confusion. Capital is produced by labour. Land is fixed in supply and is a gift of nature (or of God but there is a widepread view just now that he doesn't exist). Both workers and the owners of capital are both at the mercy of landowners. Which is why owners of land tended to become the owners of capital. But in economics, the two roles are different. Marx ignores this difference.

 

Boombust in brief

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Land titles are not weath. They are a claim on wealth. The difference is not a mere matter of semantics.

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Economic prospect worsens

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The news gets stranger. The UK pound continues to drop, now on the news that the government will breach its self-imposed borrowing limits, which have proved to be worthless when they might have been most needed. Clearly, Gordon Brown's economic policies were not designed to withstand stormy conditions. An expected shortage of tax revenues, combined with a growing bill for unemployment benefit, to say nothing of the money thrown at the banking bail-out, has left the British government short of cash.
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BBC Any Answers?

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Has anyone ever succeeded in getting the subject of land value taxation mentioned on "Any Answers?", the programme that follows Any Questions? at 2.00pm on Saturdays. This week, the first question was "Who is to blame for the crisis?" Just to see what would happen, I sent in this email, to no effect.
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The Keynesian Option

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During the Great Depression, a programme of public works was initiated by President Roosevelt as a means of relieving unemployement. Will the same thing be needed again?
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Choosing Recession

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Derelict land, BrightonA recession is coming, says Governor of the Bank of England Mervyn King, and there will be pressure on sterling. We have been, say commentators, living beyond our means. This does not altogether add up. Are we about to be subjected to an economic storm, blown in from the Atlantic like a weather system?

Recession is a loosely used term which suggests a decline in the total size of the economy. Leaving aside important questions about the significance and reliability of the statistics, and whether perpetual growth is desirable or practicable, there is, presumably, some kind of build-up of unsold goods which leads to reduced orders and hence a lack of demand for those goods. But that should not in itself lead to a decline in demand within the economy as a whole. Producers may need to adapt to changing demand but that should not lead to reduced overall demand.  On the contrary, the process of adaptation should create a demand for labour and new physical capital.
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