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Rising Inequality and Falling Property Tax Rates

In the sections that follow, I first document the rise of inequality in the distribution of farmland that followed a sharp drop in farm property tax rates after 1930. Then I show, by cross-sectional analysis, a positive relationship between higher property tax rates and more intensive use of farmland, which in turn is associated with more equal distribution of farmland. Conversely, . . . → Read More: Rising Inequality and Falling Property Tax Rates

Equity Premises and the Case for Socializing Rent

The Harvard Registrar reports the most popular undergraduate courses now are “Justice,” “Principles of Economics,” “The Concept of the Hero,” and “Literature of Social Reflection.” The “Me Generation” is passing; Justice, Heroism and Social Thought are “In.” Are economists ready for this future? I think not: changes must be made.
Classical political-economists were moral philosophers. They made distribution of wealth and income central . . . → Read More: Equity Premises and the Case for Socializing Rent