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- W2258483491 abstract "Henry George likened the aggregate effects of land speculation to those of a cartel of landowners. What do cartels do? They control enough of a resource to affect price, and withhold part of the resource from use, or from its full and best use. Formal cartels do this consciously. Herbert Hoover called it “Associationism”, and fostered his “Associations” which he evidently thought were good for the economy and the country. FDR spent his first term sponsoring his National Recovery Administration (NRA), with its Blue Eagle logo posted in every store window. Each logo bore the motto “We do our part”, meaning our part in upholding prices and avoiding competition while goods stuck glued to the shelves. For farm landowners (but not tenants or workers) there was the Agricultural Adjustment Administration (AAA) dedicated to retiring much of our best farmland from production and employment. A locomotive pulling just 3 cars and a caboose were a common sight then, while railroad freight rates and passenger fares were maintained at high levels. Cities and counties that foreclosed on millions of tax-delinquent lands around the nation held them in cold storage for years, to help support the market. Texas enforced a “prorate” on oil wells, limiting each well to pumping just 15 days or less a month. ALCOA monopolized aluminum by owning all the bauxite and holding it underground until wartime's urgent need for aircraft forced the U.S. Government to build up a competitor, Reynolds." @default.
- W2258483491 created "2016-06-24" @default.
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- W2258483491 date "2013-05-01" @default.
- W2258483491 modified "2023-09-27" @default.
- W2258483491 title "Great Expectations: How Credit Markets Twist the Allocation and Distribution of Land" @default.
- W2258483491 hasPublicationYear "2013" @default.
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