Sabri Oncu wrote: >>> The "solution" of course, would be to figure out how to raise the rate >>> of profit, by ending the political/economic/technical problems that >>> are depressing it.
>> One step in that direction can be taxing all the rents (including >> capital gains on real estate and financial assets) heavily to >> discourage nonproductive investements, that is, speculation and/or >> ponzi. If the buildings depreciate, how is it that the house prices >> appreciate? It is the land underneath whose price appreciates, not >> price of the building . Tax that appreciation, adjusted for inflation, >> heavily, for example, and the like. That would discourage the >> "rent-seeking" a recent Financial Times article was complaining about. Gar wrote: > Georgism. Marx was very respectful of Henry George. The first of the "demands" in the COMMUNIST MANIFESTO was "Abolition of property in land and application of all rents of land to public purposes." Some followers of George would endorse that, since land-rents wouldn't exist. On the other hand, Marx saw land-rent (and by extension, other kinds of scarcity-rents that economists have talked about since then) as only one form of surplus-value. It's the latter which he wanted to abolish. -- Jim Devine / "In science one tries to tell people, in such a way as to be understood by everyone, something that no one ever knew before. But in poetry, it's the exact opposite." -- Paul Dirac _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
