Georgeism

Georgeism, also known as Single-Taxism, is a political and economic ideology based on the ideas of 19th-century American economist Henry George. Central to Georgeism is the belief that the economic rent derived from land (including natural resources) belongs to the community and should be collected through a single tax on land values, thus funding public services and reducing or eliminating other taxes. Georgeism advocates for a more equitable distribution of wealth by capturing unearned income from land ownership and discouraging land speculation. It aims to eliminate poverty, stimulate production, and promote social justice. It distinguishes itself from other economic systems by its focus on land value as the primary source of revenue and its rejection of taxes on labor and capital improvements. The philosophy's popularity has waxed and waned, but it continues to influence political discourse and land policy discussions around the world.

Georgeism meaning with examples

• The core tenet of Georgeism, the Single-Tax, would place a levy on the unimproved value of land. Proponents argue this would disincentivize land speculation, free up land for productive use, and generate revenue for public works without taxing labor or investment, directly impacting urban development and property prices. This makes the ideology especially relevant for the modern world.
• Advocates of Georgeism believe that by taxing land values, they can capture the economic rent generated by societal progress and growth. This would fund public services such as infrastructure, education, and healthcare, thus providing a more equitable distribution of wealth. This mechanism, they believe, is far more fair than taxing capital and labour, as well as generating positive community impact.
• Several historical movements and political parties have been inspired by Georgeism, advocating for land value taxation as a means to address inequality and promote social justice. They cite examples of successful implementations of the Georgeist model. Georgeist ideas have been implemented in various forms in different regions, although rarely in the full, comprehensive sense.
• Georgeism is considered a progressive economic philosophy, appealing to those concerned with issues of land ownership, wealth distribution, and the negative consequences of land speculation. Its focus on unearned increment contrasts starkly with neoliberal economic models which tend to champion deregulation, market efficiency, and capital growth.
• Critics of Georgeism raise concerns about the practical challenges of accurately valuing land and the potential impact on landowners, especially those with limited resources, and how it will be implemented without the effects of displacement. However, Georgeists counter by focusing on economic benefits and social justice and economic growth through fairer use of resources.