|
1. Would you
like to know what's going to happen in world economies,
months, or years, from now? Then 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 revenues drawn from annual land values relative to taxes
upon productive activity.
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 it claims that the extent of
community-generated rent is insufficient to fund necessary
government. This misbelief is explained by the fact that 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 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 taxation 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.
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 instability.
It's not
simply a 'sub-prime loans crisis'! It's a breakdown of the
financial system, because politicians, treasuries, reserve
banks and credit rating agencies chose to represent lobby groups
against the best interests of their people.
See the article in THE AGE 28 March 2008
"Unlocking
the Riches of Oz",available free on this site, traces
the development of the crisis. It also outlines the manner in
which countries may
rapidly resurrect their fortunes.
<-Click to
obtain a hard copy of the report. (AU$10.00 posted)
<- Don't
forget this, will you?! Why not be part of the debate?
| 