Lesson 10 - Henry George's Remedy

Lesson 10: Political Economy and the Progress of Civilization

Welcome to your final lesson in Understanding Economics, and congratulations on making it this far! For this lesson we dispense with the multiple-choice format, and give you a chance to use your own words. The questions refer to basic concepts that we have been exploring throughout the course. Please type in your answers, and you’ll receive feedback from one of our instructors.

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1. How would a single tax on land values affect the complexity of government?

2. Briefly describe at least three ways in which the Georgist Remedy would help to control pollution and encourage environmental sustainability.

3. Explain the difference between Capital as a factor of production and "Capital" as a social class.

4. If land speculation were eliminated, would a market economy be forced to trade between periods of inflation and unemployment? Explain.

5. Comment on the following passage from Henry George's Protection or Free Trade: "Labor may be likened to a man who as he carries home his earnings is waylaid by a series of robbers. One demands this much, and another that much, but last of all stands one who demands all that is left, save just enough to enable the victim to maintain life and come forth next day to work."

6. In this course we claim with great confidence that if Henry George's economic remedy were implemented in full, the general rate of wages would rise. How would that come about?

7. Henry George wrote, "liberty is justice, and justice is the natural law." How does this statement relate to George's understanding of the moral basis of ownership?

8. Briefly summarize the most important points of the course. (30 pts.)

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