by Mason Gaffney
Galloping settlement sprawl, such as that of the last 16 years, has set us up for The Great Crash of 2008. It has the signs of being a Category 5.
There are two main varieties: urban sprawl, and continental sprawl. Let’s start with a modest case of urban sprawl. Continue reading
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
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
by Phillip J. Anderson, 2008, London: Shepheard-Walwyn Ltd. Review by Mason Gaffney
This is an exciting, important and timely work; it will sell well. Anderson has ferreted out and marshaled dozens of sources on the 18-year cycle of boom and bust in real estate, its history, its mechanics, and its dynamics. Continue reading