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Many people have become aware of the descent of the world into financial depression. There’s much social media discussion on the subject, and numerous reasons are given for the upcoming socioeconomic collapse. Those aware see the mounting evidence: ineffectual political leadership and inadequate political responses to the worsening situation are obvious. However, the vast majority overlooks the incredibly tight case argued by Henry George, as mentioned in the subtitle to his 1879 Progress and Poverty: An inquiry into the cause of industrial depressions and of increase of want with increase of wealth …. The Remedy.

The reason that we repeat economic recessions and depressions, of course, is because we continue to ignore George’s explanation of them: land prices, which would not exist were we to capture their rent publicly, instead of taxing our incomes and purchases, develop into financial bubbles which burst repetitively into financial chaos. They also explain inflation and decline in the value of the currency – much more accurately than sorry ‘CPI’; the consumer price index.

The popular argument is that we’re about to experience a major financial collapse because governments have spent far too much money. “Just look at the USA’s national debt of $38.5 trillion!” (No that’s a matter of unnecessary government securities, Ray Dalio, Peter Schiff, Jim Rogers, Jim Rickards, et al!)

Well, money is a part of the problem in two senses: It’s land prices into which too much money has been ‘invested’. It’s also the money spent into the economy by private banking, real estate, media and other vested interests to maintain the idea that boom-bust is “the natural business cycle“, to influence our politicians to this effect, and to continue to keep us in the dark.

Unfortunately, we continue to elect politicians beholden to this increasingly stupid financial mindset. May I suggest that land prices are the precise measure of our economic sickness and political corruption?

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