How to Thaw Credit, Now and Forever

by Mason Gaffney

Working capital is the bloodstream of economic life. It is physical capital, the fast-turning inventory of goods in process and finished goods that supplies materials to the worker, and feeds and clothes her family. Short term commercial loans and trade credit buy it, but the capital is “real” — a fact often forgotten in the paper and virtual worlds of high finance, whence come the highest inner circles of government. Continue reading

The Eighteen-Year Real Estate Cycle

Much is being said about the accurate predictions that seem to have been based on this phenomenon (and at this year’s CGO conference in Cleveland, the matter will be explored further). To help focus our thoughts on this complex subject, eight Georgist thinkers recently participated in an email conversation, excerpted here. Continue reading