"Everyone. This was a classic lending-fuelled land price bubble of the kind that has occurred about every 18 years since 1800, a cycle broken only by the two world wars. The cause of booms and slumps had been explained by the end of the nineteenth century, but the preventative measure - the so-called "Single Tax" - a tax on the rental value of land - was so unacceptable to vested interests that to this day, mention is taboo. Since the phenomenon has so long been accounted for, everyone is to blame because of their lack of curiosity."
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