It could be described as the “radical centre”, as it seeks to combine free-market productivity with socialist equity by separating human effort from natural resources.
Georgism’s rejection demonstrates that powerful interests are able to control either system by rent seeking methods.
Aren’t we better than this?
Whether society can improve on this depends on overcoming systemic inertia. Implementing Georgist ideas faces significant hurdles:
The Transition Problem: Millions of everyday citizens now have their retirement wealth tied up in the speculative value of their home’s land. Transitioning to an LVT without wiping out the middle class requires a complex phase-in strategy, such as the VIMMLBUTT package.
Political Will: Rent-seeking is highly concentrated and lucrative, giving beneficiaries a strong incentive to lobby against this change.
But it can be done.