ANATOMY OF A TRAGEDY

Shakespearian tragedy

THE FATAL FLAW

The privatisation of publicly-generated land rents

THE REPERCUSSIONS

The 0.1% parasitically leeching off the land rents owed equally to the 99.9%

A widening wealth divide between the 0.1% and the 99.9%

The growth of debt, poverty and crime (Did not Marcus Aurelius say “Poverty is the mother of crime”?)

Despair, social fracture, and purposeless revolts, such as across the Middle East, the Ukraine, etc.

AIDED AND ABETTED BY THE FOLLOWING CHARACTERS

Cocked-up tax regimes designed by ‘the born-to-rule’ 0.1%

The 99.9%, believing we have an obligation to pay our taxes but, in not seeing the vast benefits of land rents compared to the ravages wrought by taxation, thereby throw their lot unwittingly in with the carefully-constructed hegemony of the 0.1%

The divorce of the theory of land valuation from the study of economics  (What other disciplines are based upon this sort of deceit?)

Window dressing provided by designed-to-fail regulatory bodies (The Australian example of ASIC having US equivalents, such as the SEC)

THE DENOUEMENT

Financial collapse (the ‘Great Recession’ in the USA, the GFC in Australia, etc.)

Confused mainstream and social media economic analyses

Shameless backing and filling by the 0.1%, in order to retain their position of privilege (‘private legislation’) which brings about:

THE CLIMAX

War

Collapse of western civilisation

LESSON

Addressing ‘the fatal flaw’ could have avoided the tragedy: the 0.1% stealing from the 99.9% and generating boom and bust