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Showing posts from May, 2019

An Unapologetic Paraphrasing of Bastiat's Apology for Landed Property

This is my admittedly snarky paraphrasing of Bastiat's rambling apology on Landed Property in his Economic Harmonies. I think by translating the verbiage into modern terms, which I couldn't help but do so with a pinch of sarcasm, it becomes clear he didn't prove much of anything at all. Instead, a reader feels underwhelmed by its points and overwhelmed by the verbosity of his rather banal parables. Even though he shows what actually causes land to increase in value when he describes the improvements of a city/town growing around land, he insists that all the gained value obtained by landlords by that mechanism is actually just the fruits of their past labors, ignoring his own supposition that value comes from the service provided, in the case of Land, by a better site to occupy, not labor.

If it pleases you, enjoy the following:

The economists of all sorts say that landlord's charge rent for value they did not create. Most say it is unjust, but some begrudgingly admit i…