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Physiocrats – The Catalysts of Economic Thought

Cross Posted from Monmouth University The Physiocrats Ordell P. Olson Assistant Professor of Economics France, at the end of the seventeenth and into the eighteenth century, was gradually going bankrupt. Wars were depleting both the natural and human resources of the...

Australia’s real lifters and leaners

by Philip Soos When the infamous duo of Abbott and Hockey came to power in 2013, they embarked upon a polarising rhetoric of “lifters” versus “leaners” separating Australians into one of two camps. The split was a simple one: those who earn and...

Gaetano Filangieri – Royal Exposé

  Part of the Geoists in History series, a biographical take on influential economic thinkers, taken from our 112 year old Progress Magazine. “I propose to introduce the reform gradually and with the greatest care. A tax particularly burdensome should be...

Georgist Glossary

Arbitrage The ability to buy cheap and sell for a higher price. Little productive effort goes into the act. Capital Improved Rating A system of municipal rating that taxes a portion of the improvements (the building) as well as the land. This is a tax on progress and...

Stiglitz to Piketty: its the land!

  Joseph Stiglitz’s recent interview with Lynne Parrymore of the Institute for New Economics demonstrates the difference between land and capital: My paper begins with the observation that in fact, you cannot explain what has happened to the wealth/income...

Gaffney on Piketty’s flaws

A frenchman with no commentary on the Physiocrats? Mason Gaffney, author of the groundbreaking The Corruption of Economics and the recent Gaffney Reader, analyses Tomas Piketty’s bestseller ‘Capital’. Capital in Any Century: A Response to Thomas...

Adam Smith on the Rentier

(1723 – 1790) Karl Williams’ biographical take “Ground rents are a species of revenue which the owner, in many cases, enjoys without any care or attention of his own. Ground rents are, therefore, perhaps a species of revenue which best bear to have a particular...

Voltaire’s Fruits of the Earth

(1694 – 1778) by Karl Williams “The fruits of the earth are a common heritage for all, to which each man has equal right.” “I do not agree with what you have to say, but I’ll defend to the death your right to say it.” “An ideal form of government is democracy...