An entrepreneurial critique of Georgism

Zachary Gochenour and Bryan Caplan ()

The Review of Austrian Economics, 2013, vol. 26, issue 4, 483-491

Abstract: This paper develops a critique of the single-tax proposal of Henry George. We present a simple search-theoretic model for the discovery of natural resources and show that a tax on the unimproved value of land is distortionary. We then consider the time inconsistency and regime uncertainty problem created by even incremental Georgist policy. We discuss historical cases of land reform and the subsequent challenge to re-establish a credible commitment to property rights in land and natural resources. Copyright Springer Science+Business Media New York 2013

Keywords: Henry George; Search theory; Property rights; Natural resources; H21; Q15 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s11138-013-0218-8

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