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He inspired the economic philosophy known as Georgism, the belief that people should own the value they produce themselves, but that the economic value of land (including natural resources) should belong equally to all members of society. George famously argued that a single tax on land values would create a more productive and just society.
Some modern proponents are dissatisfied with the name Georgist. While Henry George was well known throughout his life, he has been largely forgotten by the public and the idea of a single tax of land predates him.
Nov 26, 2023 · Georgism (also called geoism) is an economic philosophy developed by American 19 th century economist Henry George (1839–1897), the primary focus of which is the "Single Tax" on land values (a 'Land Value Tax') and elimination of all other taxes.
Apr 25, 2017 · The theory of Georgism was advanced by Henry George who believed that the economic value of land, natural resources, and opportunities should be shared equally by all members of society. Henry George proposed practice of a single tax on land instead of taxing labor.
Henry George publishes Progress and Poverty in 1879, it becomes a great success, and it catches the eye of attorney Thomas Shearman, who suggests the “single tax” label. George approves, and one of the most important partnerships in U.S. tax law history is formed.
Feb 20, 2018 · The basic assumptions and features of a land value tax begin from the Georgist definition of land and unimproved land value, which I present below, along with a table differentiating a conventional property tax (levied on both land and buildings) from a land value tax (levied upon land alone).
Feb 14, 2012 · Economist Henry George famously advocated a 100% (or near 100%) “Single Tax” on the unimproved value of land. Many modern tax economists, most notably Joseph Stiglitz, conclude that George’s logic was sound: Since the unimproved value of land is perfectly inelastic, even an expropriatory tax is non-distortionary.
