Total Resource Rents of Australia
Tuesday November 20th, 6:30pm
Presenter: Karl Fitzgerald
Venue: 1/27 Hardware Lane, Melbourne
This report will demonstrate the economic power of monopoly is capable of financing all tiers of government.
Economics once recognised that those who owned natural resources (or licensed monopolies) have a natural advantage over those running a business or earning a wage. The tax system was designed to create equality of opportunity between natural monopolies and those engaged in genuine productive activity.
Quantifying the naturally rising value of natural resources such as residential land, iron ore and water rights should be common knowledge in a genuine economic democracy. The report raises a spotlight on the economic power inherent in other forms of monopoly – privatised airports, cyber squatting, tax licenses and gambling licenses.
The moral and ethical questions are significant. Are the owners of natural monopolies encouraging the level playing field we were so promised?
The audience will learn of the efficiency dividends that could be realised if economics rents were used to finance government. It will also discuss the number of government reports that have advocated the inevitable need for these reforms.
This report is based on Tony O’Briens landmark 1999 report The Total Resource Rents of Australia.
With $21 trillion hidden in tax havens, it is time future generations looked at a new operating system to encourage demographic equality and entrepreneurial reward within sustainable means.