The ownership of land remains a crucial basis for taxation, often under-taxed, especially when government infrastructure projects like a subway increase land value. Taxation should differentiate between the value of land and buildings on it to avoid issues. The challenge lies in identifying the real variables to tax efficiently. The speaker's work emphasizes that one person's freedom can impede another’s, citing externalities when one person's freedom constrains others' freedoms.
Nobel Prize-winning economist Joseph Stiglitz joined Tyler for a discussion that weaves through Joe’s career and key contributions, including what he learned from giving an 8-lecture in Japan, how being a debater influenced his intellectual development, why he tried to abolish fraternities at Amherst, how studying Kenyan sharecropping led to one of his most influential papers, what he thinks today of Georgism and the YIMBY movement, why he was too right-wing for Cambridge, why he left Gary, Indiana, his current views on high trading volumes and liquidity, the biggest difference between him and Paul Krugman, what working in Washington, DC taught him about hierarchies, what he’ll do next, and more.
Read a full transcript enhanced with helpful links, or watch the full video.
Recorded April 22nd, 2024.
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