Development and Wealth: A Georgist Perspective

This essay addresses concerns of economic and wealth distribution, especially as they challenge the developing world. The foundation for any new framework of economic thought must embody a structure that allows for a sustainable future, not only for individuals but also for whole societies and econo...

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Bibliographic Details
Published in:	The American journal of economics and sociology 2012-10, Vol.71 (4), p.1004-1046
Main Author:	BATT, H. WILLIAM
Format:	Article
Language:	eng
Subjects:	Book publishing Classical economics Developed countries Developing countries Development Development and Wealth Economic development Economic Policy Economic rent Economic resources Economic theory Environmental protection Finance Financial Services George, Henry Income distribution Income taxes Justice Land economics Natural Resources Payments Philosophy Political behavior Private sphere Protection Public Finance Public sphere Rents Standard of Living Sustainability Taxation Taxes Wealth Wealth Distribution
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Summary:	This essay addresses concerns of economic and wealth distribution, especially as they challenge the developing world. The foundation for any new framework of economic thought must embody a structure that allows for a sustainable future, not only for individuals but also for whole societies and economic units, and the assurance of minimal standards of living for the entire world's people. The Georgist position is that all the natural resources of the earth and sky should require payment back to society for the privilege of their use. Hence the recovery of rent is the proper source of finance for government services, restoring what is otherwise an imbalance between the public and the private realms of society. The Georgist philosophy offers economic justice and clarity of vision, restoration of and protection for the commons, and protection for the environment of the earth in a deft and gentle way that is within the capacity of governments to implement.
ISSN:	0002-9246 1536-7150