Sunday, April 14, 2019

Lars P. Syll — Functional​ finance — how to cope with inflation

Abba Lerner quote.

Lars P. Syll’s Blog
Functional​ finance — how to cope with inflation
Lars P. Syll | Professor, Malmo University


Me said...

Suppose one person owned all the land and set a rent equal to all tenants’ income beyond subsistence. Would that not be oppression?

Please promote "Arguments for land value tax"

Me said...

LVT fund a minarchist government (police and courts only) and rest dished out as basic income. Ban all bank lending except capital development with 0% overdrafts for capital development lending.

The point is that physical land/location has no cost of production, it is a free gift of nature/geography and was created by 'nobody'. The rental value of land/location is created and sustained by 'everybody'. So whether land/location morally belongs to nobody or everybody; or whether individual, named owners are given special protected legal recognition of land/location by "the nation-state" is a side issue. Land Value Tax does not interfere with this set up.

LVT recognises that the rental value of land/location is very much created by everybody making up "the nation-state", all the citizens and businesses and its appointed government as a mechanism for providing and charging for public goods/the core functions of the state (law and order, defence, roads, public health such as refuse collection or sewerage etc). Without a 99% law abiding population and common rules, land has no rental value (try buying, selling or renting land in Afghanistan, Somalia or Haiti!).

LVT collects the rental value which the whole of society creates to pay for the core functions of the state (on a 'user pays' basis) and recognises that everybody contributes to creating rental value and is burdened by being excluded from everybody else's land by dishing out the bulk of the LVT receipts as personal allowances or a "Citizen's Income".

Me said...

Please promote my kaalvtn link Tom. Thank you.

Wake me up when we have minarchist government police and courts only.

AXEC / E.K-H said...

Links on Lars Syll’s ‘Functional finance — how to cope with inflation’

MMT: Distribution is the drawback NOT Inflation

Dear idiots, it is deficit spending that creates the distribution people complain about

Keynes, Lerner, MMT, Trump and exploding profit

Economics as tireless production of proto-scientific toilet paper: inflation theory as an example

Egmont Kakarot-Handtke