{"id":86467,"date":"2018-04-25T23:23:40","date_gmt":"2018-04-25T16:23:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-unsustainability-of-free-market-economics-letters\/"},"modified":"2018-04-26T00:03:16","modified_gmt":"2018-04-25T17:03:16","slug":"the-unsustainability-of-free-market-economics-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-unsustainability-of-free-market-economics-letters\/","title":{"rendered":"The unsustainability of free-market economics | Letters"},"content":{"rendered":"


\nAn obsession with maintaining high land and house prices has created a vicious class system, writes DBC Reed; notions of a universal basic income should be dropped for job guarantees, says Mike Ellwood; plus letters from David Murray and Derrick JoadIf there is any connecting theme in the continuous run of current scandals (Turn our anger into action with a summer of solidarity, 24 April), it is the breakdown of the old pre-Thatcher mixed economy, where there was a bipartisan focus on maintaining full employment. Now there is, instead, an obsession with maintaining high land and house prices \u2013 what some land economists call homeownerism \u2013 which has created a vicious class system, whereby at one end of a Midland village you have young couples paying \u00a3800 a month in house rent, and at the other older people profiteering from the rents of six such houses.No movement concerned with social justice can ignore this scam. It is corrupt because people are bribed by continuously rising untaxed capital gains into voting for rightwing parties. It deprives the young of spending power forgone in rents and high mortgages which, as Henry George showed, prevented people from moving where there was new work and affording any more than the basics.DBC ReedNorthampton Continue reading…
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\nSource : theguardian.com
\nRead more…The unsustainability of free-market economics | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

An obsession with maintaining high land and house prices has created a vicious class system,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-86467","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-muD","jetpack-related-posts":[{"id":44075,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-obsession-with-skyscrapers-reaches-new-heights\/","url_meta":{"origin":86467,"position":0},"title":"China\u2019s obsession with skyscrapers reaches new heights","date":"February 14, 2017","format":false,"excerpt":"\r It seems that nothing can curb China\u2019s obsession with skyscrapers. Fifteen years ago, there were barely any high-rises in China. Now, seven of the 20 tallest buildings in the world are on mainland Chinese soil. With the rapid development of the economy, high-rises have shot up on land once\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10560,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taipei-rising-will-new-tax-reforms-signal-a-real-estate-comeback\/","url_meta":{"origin":86467,"position":1},"title":"Taipei rising: will new tax reforms signal a real estate comeback?","date":"April 12, 2016","format":false,"excerpt":"\r Unchecked speculation, low supply and a tradition of homeownership have forced property prices in Taipei skywards There\u2019s a popular saying in Taiwan, which roughly translates as \u2018whoever has land has money\u2019. That\u2019s certainly true on the battlefield that is the Taipei housing market. House prices have skyrocketed in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/finding-solutions-to-the-uks-housing-crisis-letters\/","url_meta":{"origin":86467,"position":2},"title":"Finding solutions to the UK\u2019s housing crisis | Letters","date":"October 17, 2017","format":false,"excerpt":"\r Readers respond to Britain\u2019s chronic shortage of affordable housing with solutions of their ownLarry Elliott suggests five steps to fix the housing market (Britain\u2019s broken housing market \u2013 and how to fix it, 9\u00a0October) which include Kate Barker\u2019s idea of \u201cacquiring\u201d large sites abutting urban areas at a modest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42399,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/britain-has-enough-land-to-solve-the-housing-crisis-its-just-being-hoarded\/","url_meta":{"origin":86467,"position":3},"title":"Britain has enough land to solve the housing crisis \u2013 it's just being hoarded","date":"January 31, 2017","format":false,"excerpt":"\r Developers are sitting on land without building anything, then selling it on for profit \u2013 a vicious cycle that can make it impossible to create affordable homes. What can be done to stop this speculative feeding frenzy?\u201cBuy land,\u201d said Mark Twain. \u201cThey\u2019re not making it any more.\u201d\u201cThen once you\u2019ve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20326,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brexit-takes-a-bite-out-of-quick-sale-london-property-prices\/","url_meta":{"origin":86467,"position":4},"title":"Brexit takes a bite out of quick-sale London property prices","date":"July 20, 2016","format":false,"excerpt":"\r What is the cost of having to raise money quickly by selling London property? Almost 15 per cent based on the sale of two properties on Oxford Street, the United kingdom's busiest shopping thoroughfare, since Britain voted to leave the European Union.Aberdeen Asset Management's UK Property Fund accepted a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/broken-land-ownership-system-fuels-inequality-letters\/","url_meta":{"origin":86467,"position":5},"title":"Broken land ownership system fuels inequality | Letters","date":"April 21, 2019","format":false,"excerpt":"\r The unequal distribution of land has created serious problems in housing provision and wider society, say readersThe revelation that half of England is owned by less than 1% of the population (Report, 18 April) is a stark example of how broken our archaic system of land ownership is. This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86467"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=86467"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86467\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}