Oz Blog News Commentary

Articles from Prosper Australia

From capitalism to rentierism?

December 3, 2017 - 12:48 -- Admin

Taxes on wages in Australia were fairly minimal until WWII, since which time they’ve been ratcheted up significantly. Federal taxes before the war consisted mainly of customs and excise charges and the federal land tax, introduced in 1910. The States and municipalities also levied land-based taxes. These played an important part in the development of […]

National land prices up $594 billion

October 28, 2017 - 09:14 -- Admin

MEDIA RELEASE Wage growth suffers from record increase in Australian land prices. “The $593.7 billion uplift in land prices announced today is thirty times larger than total banking profits. The average annual gain has been around $180 billion, so to have an increase some $300 billion higher than normal shows just how much money has […]

Banking on Profits

October 10, 2017 - 16:44 -- Admin

Letter to The Age October 10th, 2017 How ironic that boss Ian Narev is concerned that global wage growth has been “relatively weak” (‘CBA boss says sorry over ATM scandal’, The Age, 7/10). Adam Smith noted in Wealth of Nations that privatised land rent adds one-third to costs. (“This portion, or, what comes to the […]

Regulatory bodies paid to look like idiots?

September 16, 2017 - 13:47 -- Admin

All the great social philosophers have held that land must be rented, not sold, if communities aren’t to implode. One of them put it into a formula, saying that if we capture the social surplus, then labour and profits will receive their full and rightful income—their ‘private property’?—undiminished by arbitrary taxation:- i.e. Production (P) minus land […]

The Queen Pays Her Dues, Do You?

September 8, 2017 - 15:51 -- Admin

This week the Renegade Economists radio show celebrated ten years on the 3CR airwaves. Much of the show was based on the following. Have a listen: Reverberations from Phillip Anderson’s presentation to the 126th Annual Henry George Dinner are still being felt. Phillip revealed that the Queen pays a significant land rent to the UK […]

“Is the Queen a Georgist?”

September 6, 2017 - 13:01 -- Admin

Turns out she is! She pays the rent …. In 2015 the Crown Estate delivered a record £328.8 million to the Exchequer from its thirty wind farms and central London assets. This was up 8.1% on the previous year, taking the total the Estate has returned to the Treasury over the last decade to more […]

Alan Kohler: Listen to George

September 4, 2017 - 13:04 -- Admin

Cross-posted from Alan Kohler’s The Constant Investor, the 2nd time he has written about Georgism in recent years. Saturday was the 178th birthday of Henry George, who, in 19th century America, worried about inequality and puzzled over why technology was not delivering better results for working people, rather like economists and central bankers are doing today. […]

Was it ‘debt’ or land price what done us in, Gov?

September 3, 2017 - 19:24 -- Admin

Economists are very strange people.  Some of them say private debt doesn’t matter much, because banks simply act as intermediaries between people in the community who lend to each other, so that any private debt cancels out.  More realistically, other economists say that banks, by generating excessive debt, are responsible for the repetitive economic recessions […]