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Land and Taxation
With an updated introduction by Fred Harrison, Shepheard Walwyn has now published this classic book as an eBook. Economists know that the optimum conditions for private enterprise are achieved when taxes on the earned incomes of labour and capital are reduced to zero but, because neoclassical economic theory insists on treating land as capital, they dismiss the obvious alternative to taxing labour and capital – the unearned income from land. Mason Gaffney explains the importance of recognising land as a distinctive factor of production and the consequences of its uniqueness for economic policy, for example, that income from land is subject to market forces quite different from those that determine a return on capital. Nic Tidman brings together the classical literature on land taxation to explain the argument that such taxation is an economically efficient and ethical revenue source. The authors argue that reform of the structure of public finance would make it possible to restore full employment without causing inflation and to reduce the overall tax burden. Once again, Shepheard Walwyn presents a different approach to an old problem.
Rethinking the Economics of Land and Housing
Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.
The Research Review
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Philosophy and Democracy
This volume collects some of the leading essays in contemporary democratic theory published since 1970. The anthology presents the work of a select group of contributors and covers many foundational approaches defended by scholars from a range of different disciplines.
Perspectives on Public Choice
This five-part volume surveys the main ideas and contributions to the field of public choice.
Machine Dreams
This is the first cross-over book into the history of science written by an historian of economics. It shows how 'history of technology' can be integrated with the history of economic ideas. The analysis combines Cold War history with the history of postwar economics in America and later elsewhere, revealing that the Pax Americana had much to do with abstruse and formal doctrines such as linear programming and game theory. It links the literature on 'cyborg' to economics, an element missing in literature to date. The treatment further calls into question the idea that economics has been immune to postmodern currents, arguing that neoclassical economics has participated in the deconstruction of the integral 'self'. Finally, it argues for an alliance of computational and institutional themes, and challenges the widespread impression that there is nothing else besides American neoclassical economic theory left standing after the demise of Marxism.
The Costs of Sprawl
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The Idea of Democracy
In the wake of the creation of new democratic regimes around the world, political theorists have begun to rethink the nature and justification of this form of government. This collection of essays addresses a variety of fundamental questions about democracy.
Behavioral Social Choice
Behavioral Social Choice looks at the probabilistic foundations of collective decision-making rules. The authors challenge much of the existing theoretical wisdom about social choice processes, and seek to restore faith in the possibility of democratic decision-making. In particular, they argue that worries about the supposed prevalence of majority rule cycles that would preclude groups from reaching a final decision about what alternative they prefer have been greatly overstated. In practice, majority rule can be expected to work well in most real-world settings. They provide new insights into how alternative model specifications can change our estimates of social orderings.
