Progress & Poverty: part 1

[gwynedd1]

If we can't have this principle applied in a public way I wish private capital would build their own town and feed the real estate value. I don't know why big employers don't purchase housing sites on cheap land to capture the value they create. This would at least capture the full value of production. They could pay higher wages and get it back as rent. This would keep speculators from leaching their wage labor. The incentive to keep labor in good condition will be high.

[WestPhillyCat]

This is a poor discussion of economics! The fundamentals of economics are not land, labor and capital, but rather scarcity and choice! Your definition of capital is completely wrong. Capital INCLUDES labor and land amongst many other things. George's land tax based on the notion that land should be regarded as communal property would essentially be a return to the commons system, which was disastrous. The fact that George is even regarded as an economist is incredible; he was a journalist!

[a46475]

@WestPhillyCat Capital is not a list of arbitrary pronouncements. Capital is a definition. Define 'capital' and see what qualifies and what doesn't qualify as capital. Labor with or without the help of capital creates wealth. If the purpose of this created wealth is to produce more wealth, it is CAPITAL. All capital is wealth but all wealth isn't capital. The earth isn't a fruit of human exertion so it isn't wealth and so cannot be capital.

[gwynedd1]

@WestPhillyCat

You don't even have the Georgist system correct which is to retain the private use of property and only the taxation of a ground rent. A total rent value tax is debatable but as the source of tax it is not. It uses the same principle as price discrimination only in this case its justified. Also I suppose you can argue over capital except that it has no meaning and its quite useless not to define products of labor and land value. That is why economics is broken.

[bootiack]

geoism is awesome, better than democrat work welfare creatign pension and welfare wealth based equality ruining progress

[khataroo]

And I think to myself, what a wonderful world this would be. I am thrilled to see these videos. I took the Progress and Poverty class at the Henry George School in San Francisco a few years back and I tell you, it has never left my mind on how simple and reasonable a system it is. I totally agree with @ourearthhome comment's below. It would bring me much happiness to have these principles implemented.The truth is always a breath of fresh air.

[butlmat]

I like this idea and promise to learn more. One question. You say 3 factors of production are Land, Labor, and Capital. OK . I remember that from high school economics. You then say something like "When all those three are working together..." Well, in practice that never happens. It takes an entrepreneur or a capitalist to achieve that. The capitalist identifies the ideal combination of land, labor, and capital, correct? Maybe this changes nothing, but you would you comment?

[HGSChicago]

@butlmat To the extent that he personally partakes in his business (and most do, of course), an entrepreneur is a laborer. (Labor can be physical or mental.) And, to the extent any laborer provides his tools (which many do), he is a capitalist in the original sense. A homeowner is a kind of capitalist too, when you think about it.

Capitalism/entrep. can involve working with all three factors, but land is the most problematic and least widely distributed -- the problem HG was addressing.

[amafuji]

"People do not argue with the teachings of [Henry] George, they simply do not know it. And it is impossible to do otherwise with his teaching, for he who becomes acquainted with it cannot but agree. ...Solving the land question means the solving of all social questions."

-Leo Tolstoy

Thanks for speaking about George.

[srlopmorales]

Estimados señores soy graduado de los cursos de Comprender la Economía que se han impartido acá en Nicaragua y solicitaría de ser posible subtitularan al Español estas entregas, para poder expandirlas, Gracias

[pirucreek]

I think you should read "Man The Hunter" you can read excerpts of it at google books look at p37. The natural state of man, man obtains food and materials from the non-owned natural world. The average work week is 18 hours. When he gets back to his tribe of 50, he shares his food with his neighbors. The rest of the night is a party. He does rent the land for his home, but pays no fees for it.

[mtl8484]

very well explained thank you very much

[brek067]

Interest and rent are very difficult to understand in Progress and Poverty. This guy says that capital is needed to acquire interest when George says that interest is a natural phenomenon such as grape juice into wine. Tools or capital only enhance interest. Proper storage, not capital, is one of the creators of interest. Please don't give up, this guy is the Newton of economics. lol

[magrathean0]

Very clearly explained...well done

[SingleTax]

I have all of Henry George's books, and have been promoting his Single Tax remedy (mostly to deaf ears) for a decade. I'm so glad to finally see something that newcomers can watch rather than read. Thanks very much for posting. :-)

[bluepearlamma]

The idea of sharing the earth equitably has enormous resistance. The owners of earth have succeeded in playing to the fears and greed of humanity to the point that most of humanity agrees to a system which is totally against their best interests. That ears are deaf to these ideas is not surprising. Ears will not open until hearts open and for good reason. Good ideas based on altruism are often corrupted by the unredeemed egos projecting fear who take charge of applying them.

[ourearthhome]

The idea of sharing the earth equitably has enormous resistance. The owners of earth have succeeded in playing to the fears and greed of humanity to the point that most of humanity agrees to a system which is totally against their best interests. That ears are deaf to these ideas is not surprising. Ears will not open until hearts open and for good reason. Good ideas based on altruism are often corrupted by the unredeemed egos projecting fear who take charge of applying them.

[lvtfan]

see wealthandwant dot com for more on these ideas!

[lvtfan]

Poverty, sprawl, long commutes, housing affordability, unemployment, blight, and abuse of the environment are all closely related to the problem this video describes.

Life can be much better for all of us!

[eagleboy333]

Amazing! such clarity in just 10 minutes.. give us more!!

[heliad]

posting part 2 now & hopefully 3 also today, thanks for watching! please subscribe.