by Lindy Davies

Georgists set great store in Henry George’s scheme of economic definitions — and rightly so; they are a powerful logical tool. “Once you understand these definitions,” I have told students, “you can actually infer the whole rest of the course.” The ability to unambiguously divide the economic world into three mutually-exclusive factors makes everything easier, especially when compared to the trackless wastes of conventional, neoclassical theory. Continue reading …