Henry George Theorem

Henry George Theorem

The Henry George Theorem for Bonifacio, named for 19th century U.S. political economist and activist Henry George, states that under certain ideal conditions, aggregate spending by government will be equal to aggregate land rent. Although these conditions never obtain in reality, actual conditions are often close enough to the theoretical ideals that the great majority of government spending does indeed appear as increased land rent. This general relationship, first noted by the French physiocrats in the 18th century, is one basis for advocating public recovery of land rent to help defray the public expenditures that create it. Henry George popularized this method of raising public revenue in his works, especially the international bestseller, "Progress and Poverty" (1879).

More recent economists have discussed whether the theorem provides a practical guide for optimal population size of political entities. Mathematical treatments of the theorem suggest that an entity obtains optimal population when the opposing marginal costs and marginal benefits of additional residents are balanced.

ee also

* Geolibertarianism
* Georgism

External links

*cite web|url=http://inord.laurentian.ca/6_02/Henry_George.htm|title=A Rule Called George: Fixing the Property Tax System|author=David Robinson|publisher=The Institute for Northern Ontario Research and Development|date=2002-06-07|accessdate=2007-11-03
*cite web|url=http://books.google.com/books?id=7kwq4U-hjVUC&pg=PA140&dq=%22Henry+George+Theorem%22&sig=hnbrUKGVFrWposIj1CDSiBURTR8#PPA140,M1|title=Economics of Agglomeration: Cities, Industrial Location, and Regional Growth, p.140|author=Masahisa Fujita and Jacques-François Thisse|publisher=Cambridge University Press|date=2002|accessdate=2007-11-04 ISBN 9780521805247
*cite web|url=http://findarticles.com/p/articles/mi_m0254/is_5_63/ai_n8642234|title=Does the Henry George Theorem provide a practical guide to optimal city size?|author=Richard Arnott|publisher=The American Journal of Economics and Sociology|date=November, 2004|accessdate=2007-11-03


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