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With the eclipse of the New Right, politicians now admit that society is in crisis. Something must be done, but, explain the authors, governments will fail again unless they shake off the economic orthodoxy that is now one of the problems rather than the means to a solution. This book investigates the roots of the problem, both historically and theoretically. Dr Michael Hudson draws on archaeology and history, from Bronze Age Mesopotamia through Rome to Byzantium, to show how a destructive virus crept into the body politic. This led to a breakdown in man's relation to the environment and divided society into a wealthy ruling oligarchy and an impoverished majority.
Something must be done, explain the authors, but governments will fail again unless they shake off the economic orthodoxy which is now one of the problems rather than the means to a solution. This book investigates the roots of the problem, both historically and theoretically. Dr Michael Hudson draws on archaeology and history, from Bronze-Age Mesopotamia through Rome to Byzantium, to show how a destructive virus crept into the body politic. This led to a breakdown in man's relationship to the environment, and divided society into a wealthy ruling oligarchy and an impoverished majority. The We.
With the eclipse of the New Right, politicians now admit that society is in crisis. Something must be done, but, explain the authors, governments will fail again unless they shake off the economic orthodoxy which is now one of the problems rather than the means to a solution. This book investigates the roots of the problem, both historically and theoretically. Dr Michael Hudson draws on archaeology and history, from Bronze Age Mesopotamia through Rome to Byzantium, to show how a destructive virus crept into the body politic. This led to a breakdown in man' s relation to the environment and divided society into a wealthy ruling oligarchy and an impoverished majority. The Welfare State is an attempt to remedy this inequality. However, despite the escalating cost to taxpayers, the Welfare State has failed to stop the widening gap between the rich and the poor. Drawing on medical evidence, Dr George Miller demonstrates that not only have the poorest grown poorer relatively, but their health has suffered disproportionately. Hence people born into the lowest classes still have a greater chance of dying before they can enjoy their pensions. A century ago Henry George, in his world-famous Progress and Poverty, asked why there still was poverty, when the Industrial Revolution had made it possible to make in a day what had taken weeks or months previously. Dr Kris Feder shows how the Georgist paradigm provides an ideal way of tackling the many ills besetting the industrialised and third worlds. Nobel prize-winning economists recommend it as the way forward for Russia. Dr Feder clears away misrepresentations of George' s thesis and explains how it would not only lead to a fairer distribution of wealth, but would also simplify the tax system.
With the eclipse of the New Right, politicians now admit that society is in crisis. Something must be done, but, explain the authors, governments will fail again unless they shake off the economic orthodoxy which is now one of the problems rather than the means to a solution.
With the eclipse of the New Right, politicians now admit that society is in crisis. Something must be done, but, explain the authors, governments will fail again unless they shake off the economic orthodoxy which is now one of the problems rather than the means to a solution. This book investigates the roots of the problem, both historically and theoretically. Dr Michael Hudson draws on archaeology and history, from Bronze Age Mesopotamia through Rome to Byzantium, to show how a destructive virus crept into the body politic. This led to a breakdown in man' s relation to the environment and divided society into a wealthy ruling oligarchy and an impoverished majority. The Welfare State is an attempt to remedy this inequality. However, despite the escalating cost to taxpayers, the Welfare State has failed to stop the widening gap between the rich and the poor. Drawing on medical evidence, Dr George Miller demonstrates that not only have the poorest grown poorer relatively, but their health has suffered disproportionately. Hence people born into the lowest classes still have a greater chance of dying before they can enjoy their pensions. A century ago Henry George, in his world-famous Progress and Poverty, asked why there still was poverty, when the Industrial Revolution had made it possible to make in a day what had taken weeks or months previously. Dr Kris Feder shows how the Georgist paradigm provides an ideal way of tackling the many ills besetting the industrialised and third worlds. Nobel prize-winning economists recommend it as the way forward for Russia. Dr Feder clears away misrepresentations of George' s thesis and explains how it would not only lead to a fairer distribution of wealth, but would also simplify the tax system.
In this book, Ann Pettifor examines the issues of debt affecting the 'first world' or OECD countries, looking at the history, politics and ethics of the coming debt crisis and exploring the implications of high international indebtedness for governments, corporations, households, individuals and the ecosystem.
With an updated introduction by Fred Harrison, Shepheard Walwyn has now published this classic book as an eBook. Economists know that the optimum conditions for private enterprise are achieved when taxes on the earned incomes of labour and capital are reduced to zero but, because neoclassical economic theory insists on treating land as capital, they dismiss the obvious alternative to taxing labour and capital – the unearned income from land. Mason Gaffney explains the importance of recognising land as a distinctive factor of production and the consequences of its uniqueness for economic policy, for example, that income from land is subject to market forces quite different from those that determine a return on capital. Nic Tidman brings together the classical literature on land taxation to explain the argument that such taxation is an economically efficient and ethical revenue source. The authors argue that reform of the structure of public finance would make it possible to restore full employment without causing inflation and to reduce the overall tax burden. Once again, Shepheard Walwyn presents a different approach to an old problem.
Condemning the post-industrial economy to protracted periods of economic failure, this thought-provoking book documents how the integrity of economics as a discipline was deliberately compromised in the United States towards the end of the 19th century. Several chairs of economics were funded at leading universities to rebrand economics to justify unearned income. The tools for this strategy became neo-classical economics, and, unlike classical economists like Adam Smith who described wealth as the product of three factors--land, labor, and capital--the new theorists reduced these to two: labor and capital, thus treating land as capital. This concealed the benefits enjoyed by those in receipt of the rent from land. The effect, the authors reveal, was to deprive professional economists of the ability to diagnose problems, forecast important trends, and prescribe solutions.