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Understanding our Political Economy

Explore how the speculation and monopolization of land lead to economic depressions and hinder labor access. Learn about the value of agricultural land and its impact on the economy.

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Understanding our Political Economy

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  1. Understanding our Political Economy LESSON TWELVE Idle Land: The Root Cause of Economic Depressions

  2. “As populationgrows and technology advances, land values rise. This steady increase leads to speculation, as future increases are anticipated. ...”

  3. “Land Values are carried beyond the point at which labor and capital would receive their customary returns. Production, therefore, begins to stop.” Progress and Poverty, p.145

  4. J. Paul Getty

  5. “If you want to get rich, buy land.”

  6. “ The only thing that can explain why people are forced to stand idle when they would willingly work to supply their wants is that labor is denied access to land. … It is not that all land is in use. …”

  7. “What prevents labor from using this land? Simply that land has been monopolised. It is held at speculative prices, based not on present value, but on value that will come with future population growth.” Progress and Poverty, pp. 150, 151-152

  8. comprise 96% of the owners • hold 97% of the land value • hold 98% of the total acres

  9. What Agricultural Land is Worth $1.5 trillion

  10. END OF LESSON TWELVE

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