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%.


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 and

Where Else Might You Look?

Sites I enjoy

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« Forgive us our trespasses, as we forgive those who trespass against us ... | Main | Yertle the Turtle, and Tax Reform »

May 11, 2009


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Lifetime Little Necker

Last week the bank foreclosed on a property, and put it up for auction. The bidding started at $300,000, quickly went down to $200,000, and ultimately the bank bought it back for $125,000.

The property had liens of about $27,000 against it (for back rent owed). The auctioneer explained the lease terms. There were five registered bidders in the room, and no one wanted it.

Given this, how would you now calculate the value of the property?


I've got a standing google alert for Feoffees, and never saw this. How was this auction publicized? The folks who go to foreclosure auctions are a special sort, and they like having predictable conditions. I've had occasion to seek out foreclosure sales in a particular area, and it takes some significant searching, and, as best I can tell, some willingness to take on some risks.

I recommend that a well-publicized auction be staged. If the Boston Globe, for example, wrote about it, I'd bet that the bidding would be quite interesting. It might not be among current tenants, particularly if the location is not one of the better ones.

And how were the lease terms described? Did they mention that the trust calls for the market rent to be collected?

Dissertation Topics

Blogs are so informative where we get lots of information on any topic. Nice job keep it up!!

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