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| Wealth and Want | |||||||
| ... because democracy alone is not enough to produce widely shared prosperity. | |||||||
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Fiscal Stimulus Mason Gaffney: Neo-classical Economics as a Stratagem Against Henry George
Georgist tax policy makes jobs without inflation,
and without deficits. "Fiscal stimulus," in the shallow
modern usage, is a euphemism for running deficits, often
with funny money. George's proposed land tax might be
called, rather, "true fiscal
stimulus." It stimulates demand for labor by
promoting employment; it precludes inflation as the labor
produces goods to match the new demand. It precludes
deficits because it raises revenue. That is its peculiar
reconciliatory genius: it stimulates private work and
investing in the very process of raising revenue. It is
the only tax of any serious revenue potential that does
not bear down on and suppress production and exchange. As
I said, George takes two problems and composes them into
one solution. ... read
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Wealth and Want
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... because democracy alone hasn't yet led to a society
in which all can prosper
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