John Burns
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Comments by "John Burns" (@johnburns4017) on "STICK TO BANKS! (And did the National Socialist state raise living standards or benefit the poor?)" video.
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@TheImperatorKnight
George is not socialist. He had a spat with Marx. Marx said George "was capitalism's last ditch". George's approach, well it comes from Adam Smith, Ricardo, JJ Mill, etc, would clearly solve the commons, one if its prime aims.
Its base is:
1) Commonly created wealth stays public - used for common services.
2) Privately created wealth stays in private pockets.
Publicly created wealth stays public. What wealth we collectively create we use for us, by reclaiming economic rent. Revenues for the Exchequer is obtained from what we all create.
Privately created wealth stays private.
We currently do the opposite; why wealth of a nation's production ends up in the hands a few people. Why we end up with a grinding poverty layer, in a world with so much wealth creation and production.
Also charging for use or extraction of anything that is commonly owned - oil, ores, electromagnetic spectrum, seas, seabed, etc.
The productive are not penalised - promoting enterprise. They keep all they earn - no personal income tax.
The land cycle is like clockwork, every 18 years. The business cycle follows the land cycle. Kill the land cycle, then devastating boom-bust is killed, resulting in a stable economy. The 2008 crash was based in land speculation.
Martin Wolf is a fan. Ruinous trust in land speculation as the route to wealth has led to expensive houses and inefficient taxes but, far worse, it ended up destabilising the entire global economy, says Martin Wolf, chief economics commentator at the Financial Times:
https://www.youtube.com/watch?v=g5kc9RepC1Q
There is a grey area with the Austrians and George. Many do not like mentioning Henry George as it is viewed as a personification, looking like a cult. Also George only popularised it.
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