Reply to Grace Blakeley’s Post-Brexit UK measures

by Serban V.C. Enache

In this article, Grace Blakeley outlines the economic and financial plights of the United Kingdom, how Globalization failed the working class and her proposed solutions for a post-Brexit UK.

I do not agree with some of her assumptions, nor with her policy prescriptions.

For starters, Continue reading “Reply to Grace Blakeley’s Post-Brexit UK measures”

Retirement Age, ’50s Women, Pensions, Contributions, and LVT

Solving the Mess

by Serban V.C. Enache

A few months ago, I wrote an article (Justice for the WASPI and All Pensioners) in which I proposed a return to the previous (lower) retirement age, for both men and women. I made the argument that as technological progress makes societies more efficient and productive with fewer and fewer labor inputs required – it makes no sense to force people to work longer and retire later. Continue reading “Retirement Age, ’50s Women, Pensions, Contributions, and LVT”

The Trickle Up Economics of Privatized Land Rents

Assessing the impact of privatized land rent on economic growth

by Serban V.C. Enache

A new study from Prosper Australia Research Institute investigates the relationship of the land rent as share of GDP with the rate of economic growth. Since WW2, there has been a negative correlation between Australia’s total land price and the rate of economic growth. Continue reading “The Trickle Up Economics of Privatized Land Rents”

Funding Schemes for Local Authorities and Regional Governments

by Serban V.C. Enache

Observation: many of the following proposals, if not all, require medium to long term economic planning and are incompatible with the laissez-faire approach. In order to appease capitalist libertarians, I will begin the article by quoting Carl Menger, the founder of the Austrian School of Economics in his lectures to Crown Prince Rudolf of Austria.

Government thus has to intervene in economic life for the benefit of all not only to redress grievances, but also to establish enterprises that promote economic efforts but, because of their size, are beyond the means of individuals and even private corporations. These are not paternalistic measures to restrain the citizens’ activities; on the contrary, they furnish the means for promoting such activities; furthermore, they are of some importance for those great ends of the whole state that make it appear civilized and cultured.

Important roads, railways and canals that improve the general well-being by improving traffic and communication are special examples of this kind of enterprise and lasting evidence of the concern of the state for the well-being of its parts and thereby its own power; at the same time, they constitute major prerequisites for the prosperity of a modern state. 

The building of schools, too, is a suitable field for government to prove its concern with the success of its citizens’ economic efforts.”

The simplest solution allowing the government maximum space for fiscal and monetary policy is for that government to spend and tax in its own free floating fiat currency. Since Local Authorities and Regional Governments are not sovereign, they are forbidden to tax citizens in any other currency except the national currency. Continue reading “Funding Schemes for Local Authorities and Regional Governments”