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George’s proposal for a land-value tax—an annual levy on underlying land values as a fair means of generating public revenue—echoed John Stuart Mill’s earlier call to tax ‘rentier landlords’ who ‘grow richer, as it were in their sleep, without working, risking, or economising’.37 Inspired by such reasoning, land value taxes are now in use—albeit in diluted form—from Denmark and Kenya to the United States, Hong Kong and Australia. But taxation to George was essentially a substitute for a more systemic fix: land, he believed, should be owned in common by a community, rather than by landowners.
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Kate Raworth (Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist)