3 ms·
How does this contrast with more old-school approaches to the housing crisis, like say, Georgism & Land Value Tax? There was a big review on Progress & Poverty
by larsiusprime 6y ago
How does this contrast with more old-school approaches to the housing crisis, like say, Georgism & Land Value Tax?
There was a big review on Progress & Poverty over at Astral Codex Ten recently on the subject:
https://astralcodexten.substack.com/p/your-book-review-progress-and-poverty https://astralcodexten.substack.com/p/your-book-review-progr...
This proposal seems to address the same problem, but the mechanism is pretty different, and I'm wondering if it improves upon what the Georgists have already proposed, or if it is less efficient by being different.
- dredmorbius 6y agoI think you're on the nose here. The public ownership rental option goes nowhere without a capability to acquire (and retain) properties for the programme, and the ability to move unproductive or underproductive real estate into same. California's property tax situation (e.g., 1977's Proposition 13) makes this an all but unsolvable problem for that state. Short a countervailing proposition, a (state) constitutional amendment, or a state or federal supreme court reversal, that law is going nowhere, and is pretty much a Land Value Tax's antiparticle / kryptonite. One potentially promising alternative is the growth of land banks, mostly in the Eastern and Midwestern US, notably Illinoios, Ohio, and New York, possibly elsewhere. Though not based off a land value tax, tax-delinquent properties are acquired by the land bank which then attempts to return them to productive use. Pairing the land bank and public ownership rental models strikes me as a potential viable route to expanding both concepts.
- eastWestMath 6y agoBanking seems like the best way to phrase this to prevent people from screaming about socialism.
- dredmorbius 6y agoYour insight has been growing on me each time I re-read it.