Mainstream economists have turned classical political economy into a dark art by ignoring the social and economic harms of private individuals profiting from land values created by the public.

As Winston Churchill pointed out, a private monopoly over land rent is the mother of all monopolies. Because governments choose to tax wages and consumption rather than land values and natural resources, this monopoly is also the mother of inflation, fuelling destructive economic cycles of boom and bust.

Why do we tolerate this? Because powerful banking, real estate, and media interests profit from maintaining the current system.

Land prices: the root of economic evils.

Hey, people! Why not fix it?