Wednesday, November 22, 2006
The value of land is created not by individuals, but by the growth in population and wealth of the surrounding community and by the community's investments in public services and infrastructure. Land value taxation recaptures community-created value for the needs of the community while providing an incentive to put sites to their highest and best use. With the right incentives in place, we won't have to worry so much about how long it will take for the site of the next closed manufacturing plant to come back to life.Dave Downing (who brought this article to my attention) refers to these people as American Taliban Communist but the Taliban or American parts aren't needed. Marx' letter to Engels in 1851 argued that
Every payment of rent for the use of a piece of real estate will make the farmer part-proprietor of it and will count as a mortgage payment by him. When the property has been entirely paid for it will be immediately taken over by the commune, which will take the place of the former owner and will share with the farmer the ownership and the net product.Is there any difference between that and ISAIAH's call for "land value taxation"?
Hostility to speculators is a common Marxist theme -- and their close cousins.