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“Economists Mason Gaffney and Fred Harrison claim in their work The Corruption of Economics that industrialists toward the end of the 19th century may have intentionally created and promoted a new brand of economics (neoclassical) to divert public attention from the monopolization of nature. Neoclassical economics treats nature as capital - a resource to be exploited.”

Quote by Martin Adams

Book:Land: A New Paradigm for a Thriving World
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Land: A New Paradigm for a Thriving World

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Martin Adams

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“Our inability to share the gifts of nature causes much suffering in the world today... We mistakenly believe that a free market should allow people and corporations to profit from nature, yet we've failed to consider the immense cost to life that occurs whenever people are allowed to reap what they haven't sown at the expense of others. While the privatization of capital can lead to production efficiencies that benefit the entire market, the same can't be said for privatization of nature. Whenever the income stream from nature is privatized, human beings take for themselves the gifts that would better be freely shared with everyone.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“We may wonder how the ability to profit from land fosters social dysfunction, but once we realize the extent to which community wealth is privatized for personal gain, we also come to realize just how corrupt most societies actually are. Many social problems exist as a result of how our system misallocates wealth, not as a result of an unalterable human condition.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“It's important to distinguish the value of raw land from the value of improvements made to land. Land values are socially generated and belong to the communities that have created them. The irony is that while improvements such as buildings don't affect the underlying value of the land upon which they are located, they do have the ability to indirectly affect the properties that surround them.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“Since people can only be paid for their goods and services or extract rent from society, less income is available to service the payment of goods and services when proportionally more income is used to pay monopolized rent for land. Essentially, whenever property owners collect rent from rising land values, fewer financial resources are left over for wages and capital investments, and this dynamic can effectively put society on the fast track toward social decline and wealth inequality.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“The ability of individuals to extract wealth from society by profiting from land also leads to cultural degeneration and a loss of social cohesion over time... In general, as the value of land increases, the return on capital tends to decrease comparatively, which discourages business owners from investing in capital goods and private enterprise... Resources flow away from endeavours that can create jobs, produce wealth, and enliven society, and instead flow into land speculation.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“There are a thousand hacking at the branches of evil to one who is striking at the root," Henry David Thoreau famously remarked. Conventional approaches that seek to remedy many of our social problems are often only hacking away at the "branches of evil." Every time we address a social issue by making a place more livable, such as through charitable acts or increasing the availability of social services, society's wealth invariably increases; as a result, those who are able to profit from land eventually stand to remove more wealth from society at the expense of those who are not.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“What causes recessions? Many economists talk about the need for a consumer economy, but we can't have a consumer economy if people can't afford to consume, and the only way they can afford to consume over the long run is if they create new wealth to either consume at that time or to defer as investments for later consumption. Simply put, the best way to have a functioning economy is to focus on having a wealth-producing economy. But when wealth can't be created in spite of the need for such, the production of wealth has been artificially limited, and this artificial limitation is the root cause of business recessions.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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“Fred Harrison explains in The Power in the Land how land values over time become so expensive that too little wealth is left to pay for goods and services. Real estate speculation allows property owners to demand tomorrow's wealth output today, because they have the power to withhold land from use in expectation of future gains. Artificial constrictions in the supply of land make the price increase at a rate the economy can't sustain. Land eventually becomes unaffordable and recession follows leading to a bust before the next boom commences.”

Land Economics
Book:Land: A New Paradigm for a Thriving World
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