Martin Wolf and Monopoly

I enjoy Martin Wolf’s columns. Thursday’s would seem to be calling for a land value tax, which, strangely enough, I was just reading about on Wikipedia. Did you know it inspired the monopoly board game? And how come I’ve never heard of Henry George before (note: answer is not “benefits of rural education”)?

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2 Comments

Filed under economics

2 responses to “Martin Wolf and Monopoly

  1. Between you and me, he didn’t “seem” to be calling for LVT, he was calling for it, full stop.

    He and Samuel Brittan write an article in the FT along these lines a few times a year, but AFAIAA it was the first time that he referred to Fred Harrison.

    • joerenes

      I did notice that reading the comments to the post; haven’t been reading Wolf long enough I guess!

      Since I know nothing of economics, let me ask a question here: how does an LVT deal with the problem that the landowner might not be able to earn enough from it to pay the tax? Selling it is an option, of course, and the whole premise of the question implies that the land actually ought to be worth less (if no one is able to make a go of it), but how does all this play out in practice? Seems like one needs a good model for assessing the value, but I suppose this is common to all property taxes.

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