New School of Economics, The

The New School of Economics offers a coherent plan to transform our current confining and unjust economic system into a fair and prosperous economics with opportunities for all. This book addresses systematic issues and offers a roadmap to overcome denied access to prosperity, by creating a more just and vibrant society where everyone has an opportunity to thrive and find fulfilment. The author introduces a more simplified introduction to the world of Physiocracy, and the physiocrats, the 18th century group of economists who believed that the wealth of nations derived solely from the value of ‘land agriculture’ or ‘land development’ and that agricultural products should be highly priced. At the center of this book is the movement of a new way of economic thinking. With their political-economic framework The New Physiocrats refer to this as the ‘New School of Economics’. The policies of the New Physiocrats, outlined in this book, amount to significantly more money in your pocket, soaring purchasing power, and a return to spaces of great architecture & beauty. With a mission to create a world where we regain and amplify our earned income and democratize our physical space. Here, in the New Physiocrats’ Economic Reform Platform, author Philip Allan explains: Why a Land Value Tax is Inevitable “It lights fire under the feet of land speculators and those underusing large lots of valuable urban land, putting it to its highest and best use. It pushes more units of housing onto the market, making them more accessible and affordable. It can also be combined with other incentives, proposed by the New Physiocratic League in the form of a ULT (Unified Location Tax), to shape our towns, cities, architecture, housing, commute times, and amenities in the ways we desire. Shedding taxes on labor and capital, while shifting the burden onto land (and perhaps other unearned income) is the only way out of the fiscal hole that many nations have dug themselves into. It ensures credit flows into building homes, not hoarding land. By allowing for the removal of taxes on earned income, it produces higher net incomes and investment. By doing so, it is also the first and perhaps most crucial step in addressing current account imbalances, housing affordability, and economic injustice.” Excerpted from The New School of Economics’ ‘Path to Full Employment’, which means making sure the demand exists in the first place, and that the information exists to connect workers to employers, an example of the requirements for the development of this path include: • Replacing the minimum wage and income taxation by effectively subsidizing wages • Ease of relocation • Excellent transportation network that connects employees to employers • Rapid, continuous retraining of the labour force • Correct the imbalance between people’s working hours Furthermore, the New Physiocrats propose to replace the current pension system with a plan for sustainable pensions and savings. The New School of Economics presents many opportunities for lively debate. Its platforms for economic, social, and political reforms are succinctly, and with robust passion, clearly defined.