Dwarfdeaths t1_j6ktuop wrote
Reply to comment by LegitimateAsk7824 in The internet has become essentially 5 giants sites all sharing screen shots of each other and not much else. by DominosFan4Life69
I think the problem most capitalist countries are struggling with is the failure to distinguish capital from land. Capital - that is, wealth reinvested to improve the productivity of future work- deserves returns. Instead of enjoying your wealth, you gave it up for a time to be more productive.
Rent seeking - that is, the withholding of land from those who need it to live and work - is pure parasitism. No one created land, they just found it and claimed it. (Similarly, old capital that was made by someone who is no longer alive is indistinguishable from land.)
Henry George proposed a solution known as the land value tax. It effectively rents all land out, and distributes that rent uniformly among citizens. While the owner can still choose how to use their land, the economic value of that land is owned by everyone.
Capitalism in its pure form, i.e. privatized rewards for private investment, is probably fine. But land is not capital and we can't continue to treat it like it is.
Viewing a single comment thread. View all comments