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Repopulating New Orleans

How did San Francisco do what a top economist says New
Orleans cannot?

Our latest Nobelist in economics, Thomas Schelling, offered the following advice in the wake of Hurricane Katrina: “There is no market solution to New Orleans. It is essentially a problem of coordinating expectations… .” By that he meant simply that each . . . → Read More: Repopulating New Orleans

New Life in Old Cities

Some cities have grown in notable spurts. Some of these cities were new; others have revived after decaying. Cities’ cells, like ours, metabolize and can refresh themselves constantly. Cities need not die like us. They can continue this cycle of renewal forever, when people remodel buildings and clear and renew sites. This can happen even after periods of sickness . . . → Read More: New Life in Old Cities

How to Revitalize a Failing City

GEORGIST POLICY HAS been shown as a means to revive dying cities, and in the process to reconcile equity and efficiency, to reconcile supply side economics with taxation, and to reconcile capital formation with taxation of the rich. It can be seen as a means of harmonizing collectivism and individualism, in the most constructive possible ways. I know of no other . . . → Read More: How to Revitalize a Failing City

Time, Taxes, Turnover and Intensity

A reply to comment by Henry Goldstein and Procter Thomson on my “Tax-induced Slow Turnover of Capital,” published in Western Economic J. WEJ editors returned it for shortening. Meantime Anthony Chisholm replied on my behalf, using some of this material. I have incorporated it into  to be polished . . . → Read More: Time, Taxes, Turnover and Intensity

Tax-Induced Slow Turnover of Capital

PRESENT DOLLARS are heavy dollars; future dollars are light dollars. The effort of taxpayers to retard tax liabilities and advance tax write-offs follows as the night the day, and economists understand the rudiments of this game: taxes deferred are taxes denied.
The economics profession has lagged in developing capital theory and more so in incorporating it in its teachings. It is . . . → Read More: Tax-Induced Slow Turnover of Capital

Mason Gaffney’s Testimony to the President’s Commission on Urban Problems

The higher tax rate in cities drives investors elsewhere, both home builders and industry, because whoever puts un a new building under this state of affairs tends to become a fiscal surplus generator, and no one really wants to be that: it means you pay more in taxes than you get back in services.
Since there are many competing jurisdictions, . . . → Read More: Mason Gaffney’s Testimony to the President’s Commission on Urban Problems