Economics and society: Barrier to a breakthrough
But Harding downplays the role of economic rent from its classical source land with no evidence, land & natural assets still accounts for about 80% of economic rent.
My favourite Keynes Qoute:
“First, let's euthanize all the rentiers”
"The failure of government to collect rent in lieu of taxes leaves a huge imputed income stream to the owners of nature, which is capitalized by market forces into a selling price (this selling price driven upward by the use of credit as leverage as fuel to an inherently speculation-driven market dynamic). Thus, the most important -- critical -- change in public policy required to stimulate a noninflationary, full employment society and elimination of the boom-to-bust cyclical nature of economic systems is to change the way government raises its revenue. The rent fund is huge and its collection could elimination the taxation (i.e., confiscation) of legitimate private property."
Our as I put it -
"we should pay no private individual for the gifts from mother nature, so one family can starve to allow another a life in opulence"