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Land value tax would solve this: https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax Why? Everyone on earth is a NIMBY w
by sooheon 4y ago
Land value tax would solve this: https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax
Why?
Everyone on earth is a NIMBY when they believe they won't be sufficiently compensated for the negative externalities of a new development. Everyone on earth is also a YIMBY when it comes to developments with positive expected externalities.
This is not a moral problem, this is an economic incentive problem. We need to debug capitalism so that externalities both positive and negative are internalized, and everyone becomes IMBY-neutral.
This just happens to have the side-effects of removing deadweight loss, rewarding builders and penalizing squatters, encouraging development and discouraging speculation.
- rcpt 4y agoEndlessly frustrating to imagine how incredible life in California would be under that. Instead we've got Prop 13 which is the polar opposite
- sooheon 4y agoIt's not an exaggeration to say if it were successfully implemented globally to fund a humanity dividend, it would solve poverty without demanding more from any individual unfairly. Prop 13 is a crime against economics and public finance.