That’s correct, guys! So, our legislators prefer high land prices and all the deadweight losses from taxes on our incomes and purchases. In “Unlocking the Riches of Oz” in 2006, I found the excess burden amounted to a trillion dollars in Australia. The deadweight loss is significantly more now.

Economists advise that there is no such excess burden in taxing land values, but we fail to put this into practice as the main revenue base.

That’s what I’m talking about!

THIS

AND MOST PROBABLY, THIS!

NEOCLASSICAL ECONOMISTS AND MAINSTREAM COMMENTATORS WERE NOWHERE TO BE SEEN ON THIS.

I WONDER WHY NOT?

HMMM ….

~~~~~

You’re getting close by posing your fundamental question of the Big Tech data-scrapers and accumulators, and our attempt to control them with algorithms, Waleed!

The problem with big rent seekers goes one step further. Where is the morality in under-taxing rent seekers as we over-tax genuine workers and income earners?

Once we answer that question, we might then discover the reason for our descent into another financial depression. Unchecked ethical decay demands an impossible price.