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The New School of Economics is a book from The New Physiocratic League (published 02-03-2018) which was the first to cover an emerging trend in policy. As much of the world looks to cover impossible debt burdens without growth-crushing tax increases, and without the inflation from monetizing debt, governments will be increasingly forced to shift the tax burden toward land value taxes. The land value tax is the only tax which encourages rather than limits economic activity. Unlike labour or capital, land cannot flee national borders, or be hidden from the public. It is the only way to raise tax revenues while encouraging rather than hurting growth, and will therefore be the only way out of the coming economic downturn and debt crises.

After the book’s publication, a land value tax has been adopted as part of the platform of some of the major UK political parties, and is in the process of being adopted in many other parts of the world. Variations of it have previously been implemented in parts of the US, and are currently part of election campaigns in Asia.

Businesses should be aware of the emerging policy trends, especially with the tide of economic reforms that are underway. A land value tax changes the way businesses behave, particularly with regards to their land, labour, and capital allocations. The New School of Economics outlines the economic policy of the near future, and helps people participate in the transformation and prepare for it. It is even more critical reading for policymakers and politicians, who want to capture the benefits of separating land from the other factors of production in a more comprehensive package.

The tide towards this tax shift is inevitable, and is being facilitated in part by an information campaign by The New Physiocratic League. The world will continue to become more divided between countries engaging in age-old partisan left-right politics, and countries moving beyond this divide through Georgism and New Physiocratic policies. The left-right divide will continue to be blurred in some countries through the rise of populism, another mistake seldom learned from, and this too will continue to have its weaknesses exposed. Traditional left-right parties will continue to inadequately address the underlying concerns that helped create the populist movements. Populists will continue to make dangerous policy choices to address them. The New Physiocratic League, the newest iteration of Gerogism, provides the real solutions. As the economic advancement shifts in favour of countries which shift to land value taxation, it would be unwise for politicians to be left behind on this policy.

However, good policy is not enough to win elections, and it can often be inconsistent with a particular ideology or philosophy. The New Physiocratic League, through its book, outlines a framework to address these issues. Elections can be won with negative rates of income tax, income supplements, and national dividends, while immensely benefiting the natural environment, culture, and business, and simultaneously slashing debt levels – all part of the New Physiocratic League’s platform. The project offers a comprehensive, consistent ideology to finally complete and modernize the philosophical values behind the land value tax and the Georgist movement associated with it.

Keeping in mind that the shift away from income taxes towards land value taxes is the only choice that policymakers have, it would be wise to ensure this is implemented through a comprehensive reform, as part of the shift’s underlying philosophy. This is why politicians and policymakers need The New School of Economics, and why business leaders should prepare themselves for the policy changes which The New Physiocratic League promotes.

 

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https://newphysiocrats.org

https://www.amazon.com/New-School-Economics-Platform-Physiocrats/dp/1980450773/

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