Bryan Kavanagh — "The Earth’s Worth" on Renegade Economist, 3CR (May/5/10)

Land rent, Economic rent: The Earth’s Worth Secretly Supported by Economists: Bryan Kavanagh analyses the Henry Tax Review following Karl’s salvo on global economic issues.

On his death in 1988, Hutchinson was succeeded by Bryan Kavanagh. As a professional property valuer and a student of Georgist economics, Kavanagh knew that the land market is characterized by bubble-burst cycles and that the bursts are followed by recessions in the wider economy. On this basis he had predicted, in an article published in The Valuer in July 1987, that the next recession would be in 1991/2. This was correct to within one year. Seeking a reliable method of diagnosing a land bubble, Kavanagh began aggregating statistics on property turnover in the several Australian States since 1972, and eventually noticed that whenever the turnover exceeded 19% of GDP in a nationwide trend, and then returned below 19% (as it always did), recession followed within 2 years. He concluded that the ratio of property turnover to GDP is a veritable barometer of the economy, and that a ratio exceeding 19% indicates an economically damaging bubble. He is therefore unimpressed by the Greenspan doctrine that one cannot recognize a bubble until it bursts. Australian real estate re-entered bubble territory, according to Kavanagh's criterion, in 1999 or 2000.

Download

Bryan Kavanagh blogs at the Land Values Research Group: Economics as if location matters (Prosper Australia)

Source: Renegade Economists
Aired: 5/5/10 12:00 AM

Steve Keen — "Debt Saturation" on Renegade Economist, 3CR (April/21/10)

Land rent, Economic rent, Financial regulation: Debt Saturation: Prof Steve Keen sums up the motivating factors for debt as a free hit for policymakers. He also serves up a few critiques of geonomics. All fun and games – www.earthsharing.org.au

Australian economist Professor Steve Keen (University of Western Sydney) winner of the inaugural Revere Award for Economics (2nd and 3rd place finishers Nouriel Roubini of New York University and Dean Baker of the Center for Economic and Policy Research) and judged the economist who first and most cogently warned the world of the coming Global Financial Crisis argues that we are in a period of debt deflation and unemployment induced by debt saturation – particularly in the private sector – and deleveraging.

Download

Professor Steve Keen's website is Steve Keen’s Debtwatch

Source: Renegade Economists
Aired: 4/21/10 12:00 AM

Wendell Fitzgerald — "Conflict on Interest" on Renegade Economist, 3CR (Thursday, 27 August 2009)

Land rent, Economic rent: Conflict of Interest: An interview with the wise one Wendell Fitzgerald on the conflict that land owning MP’s and bankers face. Conflict of ‘interest’ has a whole new perspective for BANKERS. A special extra long (podcasters only) edition as we get to the core of the issue.

Wendell Fitzgerald discusses the merits of land tax vs income tax and how a land tax - a tax on unearned income, a free ride - could remove the requirement for income, value added, sales or any other tax on earned income.


Download

Source: earthsharing.org.au
Aired: 8/27/09 12:00 AM