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The
LVRG is the research arm of Prosper
Australia. It was
founded in 1943
by Allan Hutchinson
to demonstrate the benefits
of drawing revenues from community-generated annual land values instead of taxing
productive activities.
Modern economics has come
to recognise the superiority of public charges on land and natural
resource rents insofar as they stay with the holder of the resource
and cannot be passed on in prices like taxes, but wrongly asserts that the extent
of rent is insufficient to fund necessary government. This error is
explained by the fact that a practical area of applied economics,
the theory of real estate valuation, has gone missing from modern
economics.
The LVRG has used
the theory of
valuation to show that the annual rent from land and other
natural resource is sufficient to replace all taxation and still
deliver a universal basic income to every citizen. We show that considerations of the
direction of the national real estate market need to be
reintegrated into economics if we are to understand the cause and
cure of alternating periods of boom and bust.
Being richer in data
relating to land values than other nations, Australia provides an excellent proxy to
make this case, and to quantify and explain the extreme
deadweight losses to GDP that taxes cause.
Investigate these pages to understand how 'rent-seeking'--the
increasing privatisation of our public land rents--has led to
increasingly pernicious tax regimes, escalating land prices and
debt, and how this, in turn, has directed us into a
period of financial and social instability.
FINANCIAL COLLAPSE?
See THE AGE article
28 March 2008
Click on report
cover to obtain a hard copy of the ONLY report that
traces its real cause and cure!
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