QUEEN ASKS “WHY?” …. STRIPS KNIGHTHOOD

Er, no, your Maj., it’s not just Freddy Goodwin – it’s the system.

Land prices wouldn’t exist if we captured the rent for revenue.  There’d be no need for taxes – at all.

But the system, especially banks, promote land prices, and therefore people are locked into mortgages with high land prices–impossible land prices during a bubble–and these have to be repaid with interest over 30 years.

It’s the way the system of which you are part, your Maj., keeps the 99.9% poor by capturing community-created land rents and privately capitalising them into land prices.

Professor Luis Garicano was talking arrant nonsense:  he’s an economist.

I hope this helps?

Happy 60 years!