GEORGISM Meaning and
Definition
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Georgism, also known as the "single tax movement," is an economic and social philosophy named after the American economist and social reformer Henry George. It is based on the belief that all natural resources should be considered common property and that the value of land should be shared equally by all members of society.
At the core of Georgism is the notion that individuals should be allowed to own and control the fruits of their labor, but that the value of land is derived from factors beyond an individual's effort, such as community and natural resources. This philosophy argues that the ownership and control of natural resources, particularly land, can lead to wealth inequality and economic inefficiency.
Georgists propose that the government should collect most, if not all, of its revenue through a single tax on the value of land. According to this principle, the tax would be levied on the unimproved value of land, without considering any improvements made by the landowner. By doing so, it is believed that this tax policy would discourage land speculation and hoarding while simultaneously generating revenue for public goods and services.
The ultimate goal of Georgism is to create a fair and just society by eradicating poverty, promoting economic equity, and encouraging sustainable resource management. It advocates for a system where all members of society can obtain an equal share of the value created by land, irrespective of their social or economic status.
While the practical implementation of Georgism has been debated, its underlying principles continue to influence discussions on land ownership, taxation, and economic justice.
Common Misspellings for GEORGISM
- feorgism
- veorgism
- beorgism
- heorgism
- yeorgism
- teorgism
- gworgism
- gsorgism
- gdorgism
- grorgism
- g4orgism
- g3orgism
- geirgism
- gekrgism
- gelrgism
- geprgism
- ge0rgism
- ge9rgism
- geoegism
- geodgism
Etymology of GEORGISM
The word "Georgism" takes its name from Henry George, an American economist and social philosopher who lived from 1839 to 1897. Georgism, also known as the Single Tax movement, is an economic and political philosophy that advocates for the taxation of land values to fund public services instead of taxing labor or capital. The term "Georgism" was coined to describe the ideas and principles promoted by Henry George and has since been widely used to refer to this economic philosophy.
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