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Georgism

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Georgism is an appealing idea but it looks very different if you apply the thinking to nations than it does if you apply it to individuals.

Would proponents of a land tax for individuals also countenance such a levy on Venezualan oil revenues? The latter seems less intuitively appealing but willingness to intervene in oil rich countries, the reinvestment of oil revenues in oil buying countries and, before Gulf War II, pressure on OPEC to keep oil prices low seem to address the same issue.

Certainly the value of oil to Brunei is limited and its existence has become devoted to rent extraction.

Posted: August 1st, 2006 under Unsorted.
Comments: 3

Comments

Comment from David
Time: August 10, 2006, 2:02 am

Georgism is very appealing; to anyone who would study its philosophy. Its’ logical approach and thought would solve many of our problems. This aproach is founded upon individual liberty and freedom - a far cry from the totalitarian approach of both the left and right and green side of todays politics.

Our main problems (challenges) are in the treatment of each other as human beings. The distribution of wealth becomes the first priority. For, while man does not live by bread alone, when he is short of it it is difficult to think of other things.

The primary proposal of Georgism is the collection of the site rent (annual value) of all land and the removal of all impositions upon the acticities of individuals and of corporations.

That should answer the question regarding a “levy” (tax) on Venezuelan oil.

Comment from Jack
Time: August 12, 2006, 5:29 pm

Thanks for the reply, but I’m not sure that it does answer my question. I can see that Venezuela ought to collect site rent but should, say, oil consumer nations find ways of recovering the revenues paid to oil producing nations? I can see that is not what Georgists intend so it is not a criticism but many of the same arguments apply and the “asset curse” and other instability caused by oil wealth seem worth avoiding. Still it seems a little beyond the pale.

Comment from Rakhi
Time: September 9, 2006, 9:00 pm

I am Jack’s daughter.

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