2026-04-03
"He contended that the concentration of land ownership was the primary mechanism by which wealth extracted from productive labour accumulated in the hands of those who produced nothing"
Our readers who follow investment matters may recognise association with the 18½ year Real Estate Cycle which links the rise in real estate values with preceding investments in infrastructure. This link was recognised by 1879 when "Henry George published 'Progress and Poverty', an examination of why economic depressions occurred and why poverty persisted alongside industrial growth"
For some reason the Education Curriculum taught in American schools prior to 1901 was changed to exclude not only this information ... but how the problem might be avoided by a change to shift the burden of taxation to those who had actually accumulated the wealth to pay it.
No doubt that too might have produced unforeseen and undesirable anomalies, but that's an argument for another day ...
(17 minutes)
Like / Dislike this video here.
