Real Estate and Georgism

Incorporating the Rentier Sectors into a Financial Model

September 12, 2012
By
Incorporating the Rentier Sectors into a Financial Model

by Dirk Bezemer and Michael Hudson As published in the World Economic Association’s World Economic Review Vol #1. ABSTRACT Current macroeconomics ignores the roles that rent, debt and the financial sector play in shaping our economy. We discuss the Classical view on rents and policy responses to the rentier sector in the 19th century....

Read more »

Wall Street’s War Against the Cities

August 31, 2012
By
Wall Street’s War Against the Cities

Why Bondholders Can’t – and Shouldn’t – be Paid The pace of Wall Street’s war against the 99% is quickening in preparation for the kill. Having demonized public employees for being scheduled to receive pensions on their lifetime employment service, bondholders are insisting on getting the money instead. It is the same austerity philosophy...

Read more »

Why America Had A 90% Income Tax

January 4, 2011
By

Michael is interviewed on the Real News Network. History teaches…

Read more »

Adam Smith critiques the Deficit Reduction Commission

December 6, 2010
By

What would Adam Smith have said about the Bowles-Simpson economic report last week? What a pity the great free marketer was not around to serve on the Deficit Reduction Commission. He not only would have rolled over in his grave, he would have risen up wielding an ax to the fiscal proposals that are...

Read more »

Henry George's Political Critics

January 25, 2008
By

Henry George’s Political Critics, in American Journal of Economics and Sociology 67 (January 2008), pp. 1-46.

Read more »

Whats Missing from the Capital Gains Debate?

March 25, 2007
By

Whats Missing from the Capital Gains Debate? Real Estate and Capital Gains Taxation (pdf), with Kris Feder (Levy Institute Working Paper 17, 1997)

Read more »

Real Estate and the Capital Gains Debate

March 25, 2007
By

Real Estate Capital Gains Debate (pdf)(Levy Institute Public Policy Brief 32, 1997)

Read more »

The Methodology of Real Estate Appraisal: Land-Residual or Building-Residual, and their Social Implications

October 25, 2001
By

NYU Real Estate Institute’s Round Table Discussion of Land- and Building-Price Indices A meeting was held at New York University’s Real Estate Institute on October 25 to discuss the virtues and pitfalls of constructing a land-price index to distinguish between land and building values. The Institute’s Associate Dean Ken Patton had invited Michael Hudson...

Read more »

The Land-Residual vs. Building-Residual: Methods of Real Estate Valuation

October 25, 2001
By

Some Prefatory Remarks to the N.Y.U. Real Estate Institute discussion, Oct. 25, 2001 Economic theory focuses on labor and capital, yet the largest category of tangible assets is not industrial plant and machinery earning profits, but real estate, and its primary objective is to make capital gains. Most new entries into the Forbes or...

Read more »

Where Did All the Land Go?

March 25, 2001
By

- The Fed’s New Balance Sheet Calculations A Critique of Land Value Statistics The most comprehensive official statistics on nationwide real estate values are those published by the Federal Reserve Board (FRB) in its annual “Balance Sheets of the American Economy.” As part of its Z.1 statistical release the FRB compiles annual balance sheets...

Read more »