Charles, At 13:55 04/02/03 +1100, you wrote: <<<< Selma Singer asked: is it possible to have an economic system in which labor is paid for the value of what that labor produces?
As someone else already noted, according to conventional economics that is exactly what already happens. However, Henry George more than a hundred years ago (and many since) have demonstrated that this is just one area where theoretical economics becomes disconnected to reality. >>>> Who are the "many"? Very few people, economists or otherwise, have taken up Henry George's ideas, despite their initial plausibility. That's why they entered the antiquarian department pretty soon after George's death -- and have stayed there. Unless you believe in a huge conspiracy on the part of tens of thousands of economists the whole world over, it is likely that there is no more than a handful of economists who agree with George. Henry George's heart was in the right place but he was confused as between the economists' use of the word "rent" and what most ordinary people mean. When economists use the term "rent" they are referring to extraordinary (quasi-exploitative) incomes due to special circumstances (e.g. rent of agricultural land in times of starvation, pop-singer earnings, etc). Henry George thought that these should be taxed punitively. But he then he went on to propose that all (ordinary) rental income should be taxed, too. I go along with Henry George (and Harry Pollard on this list) in the respect that I think taxation should be based mainly on property. This would be in reasonable relationship with what an individual might lose in the event of invasion or civil breakdown. It's also the only method of ensuring that criminals are able to be taxed along with the rest of us. I go along with most of Harry's ideas as expressed on this list, and regard him a very refreshing (and realistic) commentator on the economic scene, but in the respect of George's ideas I have been totally unable to understand their relevance, try as I may. KH ---------------------------------------------------------------------------- ------------ Keith Hudson, General Editor, Handlo Music, http://www.handlo.com 6 Upper Camden Place, Bath BA1 5HX, England Tel: +44 1225 312622; Fax: +44 1225 447727; mailto:[EMAIL PROTECTED] ________________________________________________________________________ _______________________________________________ Futurework mailing list [EMAIL PROTECTED] http://scribe.uwaterloo.ca/mailman/listinfo/futurework
