(03 February 2013) Friday’s meeting of Occupy London’s Economics Working Group (EWG) discussed land value and the proposition “Share the surplus value of the land for the common good” achieved consensus. “Surplus value” was generally accepted to refer to value arising from land itself by virtue of resources, flora, fauna or location which had, in the past, been used for the common good but has been captured for private gain over centuries.
This agreement follows on from series of meetings on land and land value tax (LVT) commencing with Fred Harrison on 4th January 2013:
Occupy and land value
Specific proposals for the introduction of LVT were presented to one of the EWG meetings by the Coalition for Economic Justice but weren’t universally supported. A number of arguments are raised against LVT which have been addressed by advocates:
Killer Arguments Against Land Value Tax …Not!
Land valuation is often cited as an obstacle to the introduction of LVT:
Valuations and potential LVT receipts
Other ideas to share the bounty from the land will be explored but this agreement in principle is a big step forward on the road to addressing fundamental flaws in our economic system.
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