By Phillip J. Bryson (auth.)
Henry George the best, most renowned and such a lot rejected of early American economists who educated himself in classical economics and built a concept of a 'single tax'. there's a lot literature on many particular aspects and elements of George's paintings, yet we lack a booklet which gives an outline of George's economics... till now!
Read Online or Download The Economics of Henry George: History’s Rehabilitation of America’s Greatest Early Economist PDF
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Extra resources for The Economics of Henry George: History’s Rehabilitation of America’s Greatest Early Economist
Sample text
George commented: The Life and Economics of Henry George ● 41 I was a protectionst when he began, but when he got through I was a free trader. When they asked me what I thought of it I told them that if what he said was true, it seemed to me that the country that was hardest to get at must be the best country to live in; and that, instead of merely putting duties on things brought from abroad, we ought to put them on things brought from anywhere, and that fires and wars and impediments to trade and navigation were the very best things to levy on commerce.
He had thought a lot about speculation in land and the speculative fever that had seized the populace. The railroad land grants had been a part of the anticipation that swelling populations would hasten the rise in land values. In this situation and at this stage in his life, George went one afternoon for a ride on horseback. He later described his experience as follows: Absorbed in my own thoughts, I had driven the horse into the hills until he panted. Stopping for breath, I asked a passing teamster, for want of something better to say, what land was worth there.
46 From “Value from Obligation” to the Right to Collect Rent George’s assessment of value was in part historical in approach. ”47 These were “values from obligation” that have, through the passage of time, merged into the single right of exacting a rent for the use of land. This was, of course, a historical breach of the principle that the land should belong to everyone in common. Over time the land was expropriated by more-or-less random social processes favoring the aristocracy and, later, the landowners.