“Throughput, Land Value Taxation, Green taxes, 4 capitals, and Common Assets: A Unified Field Theory” USSEE Conference 2007 Gary Flomenhoft, Fellow Gund.

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“Throughput, Land Value Taxation, Green taxes, 4 capitals, and Common Assets: A Unified Field Theory” USSEE Conference 2007 Gary Flomenhoft, Fellow Gund Institute June 26, 2007

Ecological-Economics Reintegrating economics Scale Distribution Allocation Generally ignores Distribution, property rights (except env)

Georgist Economics Economic Justice Collect Ricardian land rent Distribute to citizens through government (property rights) allocation secondary, scale ignored Common Assets Economics Anti-privatization movement Propertize the commons Distribute to citizens directly-dividends (property rights) Scale, allocation secondary

Ecological Economics Two streams: Stabilize Throughput/ steady-state economy Scale. Daly-(Less Stuff) New Indicators,Costanza Distribution, Allocation (Less Stuff-more fun)

Intro to Ecological Economics Throughput-closed system 2nd law-neo-classicals, Georgists ignore ECONOMY earth

Stabilize Throughput in a Full World Source: Ecological Economics Principles & Applications, Farley and Daly Human built capital Natural capital

Ecological Economists Multhusians: Question growth. Georgists usually reject Malthus: Pro-growth but Incomplete reading of George (What may someday be) On Malthus Common Assets: Not addressed?

Green Budget Reform Subsidy reform Green Taxes/ Cap-Trade Common Assets

Green Tax = Throughput Tax ECONOMY LAND USE DEPLETION POLLUTION Sources Sites/habitatSinks Common assetsGeorgist land taxes pollution taxes(Pigou) PESland trusts, parks cap/trade spectrum fees

VT Common Assets TOTAL MINERALS-10%$7,300,000 PUBLIC FORESTS $62,237 WATER -1c/gallon)$87,831,410 LAND-1%$149,283,117 SPECTRUM-10%$161,965,394 SPECULATION-.25%$268,891,964 MONEY-1%$35,744,500 CO2 INTERNET ???????????? TOTAL $951,078,622 Vermont pop ,394 Dividend each $1531

REAL OWNERSHIP SOCIETY

New Indicators

SUSTAINABLE HUMAN WELL-BEING: “ NATURAL COMMONS, SOCIAL COMMONS, BUILT CAPITAL, HUMAN CAPABILITIES ” HUMAN CAPABILITIES Health, education, talent, knowledge, welfare, wealth, income SOCIAL COMMONS Trust, communication, Mutual support, democracy, human rights Built social capital: hospitals, schools, internet, libraries, roads NATURAL COMMONS Resources, ecosystem goods and services, clean environmental, habitat, air, water, land sinks BUILT PRIVATE CAPITAL Business, technology, Commerce, buildings, houses, Infrastructure (see above) Georgist site value/ Ricardian rent =

Sustainable Human Wellbeing and Georgist Utopia Public investment BI/non-labor income