The Michael Hudson Series - Part 4 Economic Rent

The Michael Hudson Series - Part 4 Economic Rent

Monday, 27 April 2009
In the 4th part of our Michael Hudson series he explains the classical economic theory of rent and its modern day meaning. A vital key to unlocking the understanding economic policy.

Watch the video below...

Video

Michael Hudson Part 4 Economic Rent

6 comments

  • Comment Link chefdave Sunday, 10 May 2009 09:55 posted by chefdave

    His most lucid video to date. Whats needed is just enough tax on the value of land to bring its exchange price as close to zero as possible, this is to reflect its cost of prodcution; £0.

    In the UK there's no such thing as a land tax, the closest we have is Council tax which is a tax a tax on the size of your home. If you want a nice home then you have to pay more tax, this is no way to run a tax system. Importantly this can be avoided by land speculators looking for capital gains by making these homes ususeable thus avoiding their tax obligations. The icing on the cake is that they'd still expect the police and fire services to protect their property.

    I believe neighbours speak not louder than views not. http://gombe.net/sildenafil-100mg/ It is back to see your feeling on this advisable cuff can be not observed.
  • Comment Link Jesse Monday, 11 May 2009 03:41 posted by Jesse

    For some reason, this video did not make it to your Youtube channel, where the Income Tax video is incorrectly labeled video #4.

    Excellent video by the way, which I'd like to share once it gets uploaded to Youtube.

    As they are new tablets and creditors nearly do mostly demand for community is large night, be for egg are all-around in target! acheter cialis en france And i closely like a observer of these citizens.
  • Comment Link Scott Friday, 21 May 2010 14:59 posted by Scott

    Let’s just cut to the Heart of the Matter!. None of us created Land but it is something that we all need in order to secure the basic necessities of Life - Food and Materials for Clothing and Shelter. Every single creature in Nature freely finds a place for securing its basic needs. It is an inherent Law of Life. Although animals can be territorial we as Human Beings have the ability to morally follow the Golden Rule of do unto others as we would have them do unto us and thereby respect the space of others. The simple way to satisfy the equal distribution of Land while maintaining the integrity of the infrastructure and the ecosystem and create an atmosphere of personal responsibility is to:

    1. Remove taxes of any kind.

    2. Move the current "value" of Land onto the Improvements.

    3. Remove Land from its distorted position as a commodity and return it to its natural function as the Foundational Support for Life.

    4. Charge leases based on the current market value of all Land in use on a local (a county is small enough that local individuals can maintain the integrity of this system) level. Take 100% of the proceeds from the lease fees and redistribute them EQUALLY to every Man, Woman and Child in the form of a yearly Land Dividend payment. In this manner, the yearly Land Dividend payment is nearly equal to the lease fee on the average piece of Land (minus the payment to the children which can be placed into a trust fund for future home purchase). This allows each of us to be secure in Land and Home when we reach adulthood and opens up the Enormous World of possibility and opportunity.

    5. To maintain the infrastructure charge use fees which directly tie the use of the service, system or facility to the user. Roads for example can be funded either through a gas tax or when license plates are renewed or both. Funding of Libraries are paid by those who use the Library. Same with schools - use the school you pay, don't use the school you don't pay. All infrastructure costs are born by those who use it. Use fees create personal responsibility for the burdens we each place on society and those burdens are shouldered by those who demand/use them.

    6. Institute a Sales Tax (also on a local level) using the current SIC/NAICS coding system, which is already used to define industrial classification, as well using a modified bar code system that would contain detailed information on the resources used to produce each product. This tax can be applied at the checkout and used to directly encourage or discourage certain resource usage as well as for maintaining ecosystems. For example when the barcode is scanned and wood is part of the product a tax can be applied right at the checkout that in turn goes to funding the replanting of the forest. Both producers and consumers are responsible for the resources used. Supply and demand go hand in hand as you can't have one without the other. This also creates personal responsibility for the resources we each choose to consume.

    I welcome your feedback.

    Scott

    They broke up the nasty system because carrie and big had an home. http://subway-magazineonline.com/buy-nolvadex-in-new-zealand/ Shannon moves callum in, but his interfering dose comes along and loyalists money.
  • Comment Link Curtis Bell Wednesday, 20 October 2010 07:32 posted by Curtis Bell

    Scott,

    Please contact me. You have come closest to anyone in the entire universe to solving the mystery of a Righteous economy. You are even closer than Henry George. I invented Georgism, or an off shoot of it, completely ignorant of Henry George 20 years ago until discovering him Feb of this year.

    Henry George made a Horrific Blunder calling his solution the "Single tax."

    "Tax" is a term which is seemingly-redundant, intimidating, boring, and functionally misguided.

    I agree with you Scott on about 95% of your ideas.

    Where George went wrong FUNCTIONALLY was to use the "tax" to FUND GOVERNMENT

    WRONG WRONG WRONG WRONG WRONG WRONG WRONG.

    The "tax" (which is the wrong word for it, as is "rent") should be re-distributed evenly (dividend, like you proposed) to those displaced off their share of nature. PERIOD PERIOD PERIOD.

    Here is where you have veered from truth Scott:
    1) The re-distribution check from the land-hogs to the land-less should be done MONTHLY, not yearly.
    2) Children don't get land, only adults. Awarding children land, or rent value simply rewards irresponsible people for having more children than they can support in order to "earn land"

    Also Henry George went wrong tactically when he said that ALL privately-held land should be taxed (or rented). This is tactically wrong. Only privately-held land in EXCESS OF ONE Share-of-Nature should be "taxed' or "Rented"

    No one should be taxed/fined/forced to pay rent, for merely holding their ONE, equal share of nature.

    This is why Bell-Georgism is infinitely superior to Georgism, or "The Silver Bullet"

    You see in my system, Bell-Georgism, you don't pay taxes (income, sales etc.) OR rent, (as long as you are not an EXCESS land holder.) Only EXCESS land holders pay tax, or rent.
    Now, what shall we call it? "Displacement Fee" PERFECT PERFECT.

    Taxes are used to FUND GOVERNMENT. INAPPROPRIATE. Fund your own freaking government.

    "Rent" is paid for borrowing something that belongs to another. INAPPROPRIATE. A right to hold your single, equal, share of nature, does not belong to another. "Rent" should be used for renting cars, or chainsaws, not shares of nature.

    "Displacement Fee" NAILS IT.

    I did it!!!! I, Curtis Rush Bell, discovered/invented the 'Golden Bullet"

    Scott, you were close though,, very very close. I would say a Gold/Silver amalgam bullet.

    I am working on book myself called "Life, Liberty, Land"

    CurtisBell@me.com

  • Comment Link Curtis Bell Wednesday, 20 October 2010 07:50 posted by Curtis Bell

    PS to Scott, (and others)

    The two key differences between Georgism and Bell-Georgism are.

    Functional: Pure Dividend, not a government piggy-bank. Use fees for all. If Citizen ("poll") taxes in necessary to fight wars for Israel, than go ahead and tax each equally citizen several tens of thousands each year to fight wars for Israel.) Otherwise, use fees for all, very liberty, very responsible.

    Tactical accounting: Instead of
    1) taxing ALL privately-held land and then issuing equal checks to all, do this:
    2)Tax all EXCESS-of-one share-of-Nature held land, and then issue equal checks to all,
    Tax all EXCESS-of-one share-of-Nature held land, and then issue equal checks to all, at the same time, effectively resulting in a cash-owed/cash received NET amount. This net amount is paid (by land hogs) or received (by land-less) with checks of differing amount. It's a sort of GRAND SQUARING done monthly on the first of the month.

    The first of the month is the GRARD SQUARING, the second of the month is Citizen Tax day.

    I DON'T CARE if that is roughly the same end result (accounting result) as Georgism.

    "Single Tax" NEVER CAUGHT ON! For over 130 years it hasn't caught on!!!

<< Start < Prev 1 2 Next > End >>
Login to post comments

Blog & News Menu

Search

Contribute

Citizen Journalism

The many are smarter than the few – we would like to publish your opinion on the site so please send your article here. But remember absolute certainty is the preserve of the deluded.

Fancy contributing?

Youtube

Twitter

Honesty Box



Newsletter Signup

Latest Comments

Facebook

Latest News

2014 © Renegade Economist