Trade Advantage Replaced by Rent Extraction

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This interview has gone viral with over a dozen sites posting it, including Naked Capitalism, Truth Out and Max Keiser. Prof Michael Hudson was interviewed on the Renegade Economists radio/ podcast entitled Crony Competition on the road to Unearned Income: Hudson gives a wrap on the economics of 2013 as we discuss Detroit, Iceland, Madoff, […]

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Can the Senate address housing affordability

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By Catherine Cashmore Reposted from Macrobusiness In the final hours of Federal Parliament for 2013, Labor Senator Jan McLucas succeeded in establishing an inquiry by the Economics References Committee, in addressing Australia’s growing housing affordability crisis, stating; “…pressures on affordability of housing in Australia have continued to intensify, especially in capital cities and mining communities.” […]

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Kohler condemns expensive land

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Alan Kohler is out this morning on Business Spectator with a big swipe at Conservative state governments.  Yes, that is conservative with a capital ‘C’. He sees at last the destruction the cost of land is wreaking from Port Hedland to Hobart. The high price of land in Australia is one of the reasons businesses […]

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The mystery of unearned income

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As published today on Truthout The wealth gap is dividing society at an astonishing rate as the lessons from the Great Recession are helicoptered away. QE3 has worked for Wall St but little else. Over 30 nations are facing the shock and awe of property bubbles as the mobility of capital swoops in to claim […]

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Companies spy a way to exploit tenants

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By Philip Soos and Paul Egan Reposted from Business Spectator Suspend disbelief for a moment and imagine you are a residential landlord with a property for rent, seeking prospective tenants through a property manager. After advertising, it later comes to your attention that many potential tenants have assessed your suitability as a landlord and that […]

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Stamp Duty stifles labor mobility

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The Productivity Commission is out with a major study that recommends ending Stamp Duty on conveyances in favor of a land value tax to avoid trapping people in their homes when better jobs beckon elsewhere. The Geographic Labor Mobility report examines the match between skills and employment – or more exactly, where these mismatch.   A […]

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Harnessing Monopoly to Finance Government

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The Total Resource Rents of Australia report finds the complete removal of income, company and sales tax is possible by replacement with a tax on monopolies such as water trading, cyber squatting, taxi licenses and land. “Economists have for hundreds of years pointed to a more efficient system by harnessing the naturally rising value of […]

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Total Resource Rents of Australia

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Major Findings The Total Resource Rents of Australia report finds: The influence of monopoly is 10 times greater than mainstream economists acknowledge. Economic rents are a significant component of the Australian economy, comprising 23.6% of GDP. Almost half of all government revenues could be delivered by channelling the property boom to more productive purposes. Income, […]

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https://prosper.org.au/2013/12/