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1. For
years, we've been explaining what's going to happen in world
economies - months, or years, out from events.
Take a
peep at the Kavanagh-Putland
Index here.
It's free. [You
might like to compare its accuracy with all the nonsense that is
served up when you Google 'economic
forecasts'!]
2. Why can't
other economic
analysts forecast the direction of the economy like this?
Could it be because the science of
economics has been turned into voodoo economics
by removing
considerations of the land market from its studies?
[If you'd like to donate to our work, simply
press the orange 'donate' button on the Prosper website.]
The Land Values
Research Group is the research arm of Prosper
Australia. It was founded by Allan Hutchinson in 1943 to demonstrate the benefits
of drawing revenues from annual land values in comparison
to taxes on productive activity - and to draw attention to the
recurrent recessions that ensue when we fail to do so.
Modern economics recognises
the superiority of public charges on land and natural resource
rents insofar as they stay with the holder of the resource and
cannot be passed on in prices (like taxes), but wrongly claims that the extent
of community-generated rent is insufficient to fund necessary
government. This is because a practical area of applied
economics, the theory of real estate valuation, has been
written out of economics.
Therefore, whilst we talk in terms of credit, money
supply and debt, we have little or no understanding of the land
price bubbles which create unsustainable levels of debt every 18
years or so.
We have used
appraisal/valuation theory to show that the
annual rent from land and other natural resources is more than
sufficient to replace all taxes and to deliver a universal basic
income to every citizen. We show that considerations of the
direction of national real estate markets need to be
reintegrated into economics if forecasting and analysis is to become
accurate, and if we wish to understand the occurrence of regular
periods of recession and depression.
Being richer in data
relating to land values than other nations, Australia may be used as a proxy to
quantify the enormous deadweight losses taxes and escalating land
prices inflict upon economies.
Investigate these pages to understand how 'rent-seeking' - the
increasing privatisation of our public land rents - has led to
increasingly pernicious tax regimes, escalating land prices and
debt, and how this, in turn, has directed us into a
period of financial and social turmoil.
Because
treasuries, reserve banks, credit rating agencies and politicians
chose to represent lobby groups against the best interests of their
people, we are about to experience an economic
depression
See the article in THE AGE 28 March 2008 or the
NEW article in
THE AGE on 20 November 2008.
"Unlocking
the Riches of Oz",available free on this site, traces
the development of the crisis. It also outlines the only means
by which countries
may turn their fortunes around quickly
<-Click to
obtain a hard copy of the report. (AU$10.00 posted)
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