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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-EconomicsReintegrating economics
•Scale•Distribution•Allocation
Generally ignoresDistribution, property rights (except env)
Georgist Economics Economic JusticeCollect Ricardian land rent Distribute to citizens through government(property rights)allocation secondary, scale ignored
Common Assets EconomicsAnti-privatization movement
Propertize the commons Distribute to citizens directly-dividends(property rights)Scale, allocation secondary
Ecological EconomicsTwo 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 system2nd 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-growthbutIncomplete reading of George (What may someday be)
On Malthus
Common Assets:
Not addressed?
Green Budget Reform
Subsidy reformGreen Taxes/
Cap-Trade
Common Assets
Green Tax = Throughput Tax
ECONOMY
LAND USE
DEPLETION POLLUTION
Sources Sites/habitat SinksCommon assets Georgist land taxes pollution taxes(Pigou)PES land trusts, parks cap/trade
spectrum fees
VT Common Assets TOTAL
MINERALS-10% $7,300,000
PUBLIC FORESTS $62,237WATER -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 8MMTe @$30/ton $240,000,000
INTERNET ? ???????????
TOTAL $951,078,622Vermont pop 2004 621,394Dividend each $1531
REAL OWNERSHIP SOCIETY
New Indicators
New Indicators
SUSTAINABLE HUMAN WELL-BEING:“NATURAL COMMONS, SOCIAL COMMONS, BUILT CAPITAL, HUMAN CAPABILITIES”
HUMAN CAPABILITIESHealth, education, talent, knowledge, welfare, wealth, income
SOCIAL COMMONSTrust, communication,Mutual support, democracy, human rights Built social capital: hospitals, schools, internet, libraries, roads
NATURAL COMMONSResources, ecosystem goods and services, clean environmental, habitat, air, water, land sinks
BUILT PRIVATE CAPITALBusiness, technology,Commerce, buildings, houses, Infrastructure(see above)
Georgist site value/Ricardian rent=
Sustainable Human Wellbeing and Georgist Utopia
Public investment
BI/non-labor income