Pages I refer to often

  • Income Distribution in the US
    How is our income distributed? Well, it is pretty concentrated. How concentrated? Take a look.
  • Progress and Poverty, by Henry George
    Here are links to online editions of George's landmark book, Progress & Poverty, including audio and a number of abridgments -- the shortest is 30 words! I commend this book to your attention, if you are concerned about economic justice, poverty, sprawl, energy use, pollution, wages, housing affordability. Its observations will change how you approach all these problems. A mind-opening experience!
  • Wealth Concentration Tables from 2004 SCF: Bottom 90%, Next 9% and Top 1%
    Aggregated data by net worth quantile, for various kinds of wealth. With calculations you won't find anywhere else!
  • Wealth Concentration Tables from 2004 SCF: 50-40-5-4-1
    These tables show how concentrated the ownership of various kinds of assets are. With calculations you won't find anywhere else! This version is less aggregated: Bottom 50%, Next 40%, Next 5%, Next 4% and Top 1%.

Categories

Books I Value

  • Henry George: Progress and Poverty: An inquiry into the cause of industrial depressions and of increase of want with increase of wealth ... The Remedy
    This is perhaps the most important book ever written on the subjects of poverty, political economy, how we might live together in a society dedicated to the ideals Americans claim to believe are self-evident. It will provide you new lenses through which to view many of our most serious problems and how we might go about solving them: poverty, sprawl, long commutes, despoilation of the environment, housing affordability, wealth concentration, income concentration, concentration of power, low wages, etc. Read it online, or in hardcopy.
  • Bob Drake's abridgement of Henry George's original: Progress and Poverty: Why There Are Recessions and Poverty Amid Plenty -- And What To Do About It!
    This is a very readable thought-by-thought updating of Henry George's longer book, written in the language of a newsweekly. A fine way to get to know Henry George's ideas. Available online at progressandpoverty.org and http://www.henrygeorge.org/pcontents.htm

Where Else Might You Look?

Sites I enjoy

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August 29, 2010

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Keith Gardner

I would add to the list: the public wealth of monetary expansion necessary to prevent deflation caused by economic growth. This is a very key form of public wealth.

Every producer contributes to the value of money. Money has no inherit value. It is the people and the goods and services they produce which give money value. It is a mere legal instrument to facilitate trade.

Under our present system, banks create money through fractional reserve lending to be used to pay debts and taxes. The Federal Reserve Act gave banks this power. Banking charter laws also gave the banks the same priviledge before the Federal Reserve Act. This allows banks the priviledge of earning interest on trade, produced by all who are productive and engage in trade.

The banks should not benefit from money creation since they do not produce the value of money, though they surely can manipulate the value. The public should benefit from money creation. Monetary expansion necessary to prevent deflation caused by economic growth should be public revenue. It isn't even a tax. Nobody is having to pay anything. The government is merely printing money and spending it into circulation so people would have more monetary units to trade more goods and services available through economic growth, caused by such things as increased employment, increased population, increased productivity, and increased velocity of economic activity.

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