Saturday, May 25, 2013

Radio Broadcast in Australia explaining the traumatised society that has been Created by hous price

The Cheating Vulnerability

The Cheating Vulnerability: Fred Harrison, the economist to accurately predicted the last two recessions, discusses his new book The Traumatised Society, delving into how the burden of economic & environmental malaise is stripping society of its rationale through high house prices and how this has happened thoughout history

Posted by pete green @ 12:48 PM (6990 views)
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4 thoughts on “Radio Broadcast in Australia explaining the traumatised society that has been Created by hous price

  • Sorry for the spelling – bloody phone…

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  • At 32:05

    Interviewer: Fred Harrison, thank you very much for joining here in the Renegade Economists.

    Fred: You’re welcome (in a depressed tone of voice)

    Interviewer: (Laughs) Oh Fred! Oh Mate! It’s hard. You know I reckon after you’ve done 10 years of Georgism, you need – there should be a free, bonus, geropsychiatry analysis to help us survive and here you are what have you knocked up thirty or forty years?

    Fred: 40, yeah (still sounding a bit depressed)

    Interviewer: Wow. It’s so hard but yeah .. it’s something to give us hope though – all these policy talk – that’s what I like. You know there’s just not much gooing on around the world. You know, we’ve learnt virtually no lessons from the global land bubble and all that’s happened is that they’ve jacked up the sales taxes around the world.

    Fred: Well, but that’s precisely all that they’re allowed to do and so you’ve got a case study in thinking about … why is it that after a land driven property bubble that caused a recession, there’s no talk, in policy terms, about changing the tax regime or changing the incentives so that it doesn’t happend again! Until you’ve got a decent explanation for that, there’s no point in going on talking about “well what we really need is a land value tax because it’s fair and efficient” because that’s what we’ve been doing for four generations and we got nowhere so that’s why I decided that I want to rebase the discussion on words like “cheating” and “predator culture” and so on in the hope that it will make people angry enough – because they will be – they will say look, you’re accusing me of being a chat. I am not a cheat! How dare you! Now at least we’ve got a conversation that’s different from “You’re telling me you want a land value tax. We’ve got enough taxes. I don’t want another tax. Goodbye.” and that they walk away from the coversation and they can forget it. They can stay in their little bubble of denial.

    Interviewer: Won’t they do the same? Won’t they do the same though when you tell them they’re a cheat – they’ll just turn their backs and say ..

    Fred: No. They’ll turn their backs and they’ll walk away and they’ll say “Harrison is a sh*t for calling me a cheat! I’m not a cheat! I worked hard for my house – for the value of my house – I paid a hundred thousand for my house and when I sell it, I’m gonna make half a million!” Now hang on, those people will think, hang on … so Harrison says I paid a hundred thousand. I’m entitled – because of inflation and because I’ve added a conservatory to my house – I’m entitle to get back two hundred thousand so harrison is saying: that extra three hundred thousand. where did it come from? So now they’re thinking. Now a little doubt comes into their minds and they start to think, in the privacy of their own homes, it is strange that, actually. Land values go up. My car depreciates – in the end I can’t give it away – the same with my fridge and my other assets but something is different [about land]. So now you see, because of this word: cheating, they won’t be able to let go of it. Because nobody likes to be thought of as a cheat. We all hate cheating and to be lumped in with others as a cheat is something you can’t walk away from – or at least some people won’t be able to. But look Carl, if you can come up with a different way of exploring these issues – great! This happens to be the one that I can figure out at the moment bit that doesn’t mean its’ the only one. But what I am saying is that if we carry on with: “land value tax is fair and efficient” we will get nowhere.

    Essentially, Fred is admitting defeat in his campaign for LVT.

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  • @QG “Essentially, Fred is admitting defeat in his campaign for LVT.”

    Of course he is. Because, rightly, he knows the game is rigged and everyone (with a brain in their head) should seek to insulate themselves from it, somehow. It’s not about making money anymore. It’s about keeping body and soul together and preserving your own personal sense of humanlty. Hard task.

    Fairness and equality is an aberation to those that rule the west. You’re on your own.

    I, sincerely, hope that you can find peace in a dark jungle. And, if you do, pass it on to someone else.

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  • Can’t quit now. If it all hits the fan lvt will have an opportunity to step forward as an alternative. fwiw: some optimism.

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