[BTW, I say modern world, because a feudal form of Georgism was widespread in the 15th century and first part of the 16th, when the humble English labourer with a family of five still retained almost two-thirds of his wages after providing food, clothing and shelter for his family. Those were indeed the days of “Merrie England” which Wikipedia unfortunately now appears to believe were mythical.]
People who consider we are arrogant, or bastards, or both, need to explain how we were able to forecast this depression. Is not the ability to forecast accurately, having reconciled theory with practice, the very proof of any scientific explanation?
So, they ought to try getting to grips with our arguments instead of dropping epithets upon us.
Maybe dropping antagonistic labels on Georgists is a necessary reaction from purportedly intelligent people who, on coming into contact with the Georgist case, find a gaping hole in their education? And that’s such a shock to the nervous system it sometimes elicits derision or abuse?
There are comparisons can be made with abolishing the slave trade or the Corn Laws: both were once considered normal, too. To acknowledge such reforms requires a 180 degree change in mindset.
As I was completing my real estate valuations course at Royal Melbourne Institute of Technology in the early 1970s, I came across a small shop in Hardware Lane which had in its windows booklets proclaiming the benefits of land taxes. “What would this little outfit, the Henry George League, know about land tax?” thought the presumptuous near-graduate. I’d been told about Karl Marx ….. but who’s this Henry George?
An introduction to George either induces derision or humility. After forty years’ inquiry into the question, I’ve been led to conclude that this little outfit knew much more than my alma mater had been prepared to pass on to me. It has been my greatest eye-opener. It lets me see where libertarians have merely taken the first steps, where Marxists have never got their heads around “surplus value,” and where those who look to reforming money or credit need first to distinguish between on what it is expended: productivity or asset bubbles?
It all comes down to what economists often speak about, but rarely understand: rent-seeking. Increased rent-seeking generates economic depressions and social collapse.
Evidence? Europe, MENA countries, the USA.
China and Australia will also pay a heavy penalty for having promoted rent-seeking to an art form.