Land bubbles of varying severity and universality recur roughly every eighteen to twenty years. Like Henry George, modern Georgists attribute recessions and depressions to these bubbles. A huge real estate bubble of the 1920′s preceded the Depression of the 1930′s. That bubble actually began to burst in 1926, three years before the . . . → Read More: Why Georgists Corrected Predicted the Crisis, and Why Conventional Economists Couldn’t
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When Clinton and McCain proposed cutting gas taxes, I asked my environmental economics students, “So how much do you think drivers will save?” The students diligently Googled the numbers. “Well,” said one, “the federal gas tax is 18.4 cents and the average state tax is 28.6 cents, so that’s 47 cents a . . . → Read More: Elasticity! Why cutting gas taxes won’t lower prices, but will fatten oil companies |
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