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A fringe economic philosophy today that probably won’t be fringe in 10 years: Georgism
Georgism in short: Unproductive capital (land and real estate) should be taxed heavily and productive capital (labor, companies that contribute to GDP) should not be taxed at all
Georgism addresses the inequality gap but is far more capitalist than socialist
As GDP slows and inequality persists, we need radical ideas. Georgism incentivizes builders while redistributing wealth from landlords to those left behind.
No surprise the concept is so fringe today - baby boomers in power will not be quick to give up their land and real estate. But as gen x and millennials take power, Georgism is likely to enter the overton window.
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