196

People live in an artificial binary where they believe communism and capitalism are the only two economic systems in the entire world.

I'll be bold and say it outright: communism is a fundamentally broken idea and sucks balls, and so is capitalism, but both in similar-yet-different ways.

Communism is faulty economics and fails to differentiate between man-made capital and god-given land and natural resources, grouping both as "the means of production". The problem with this is land and capital have very different properties. Where land (and natural resources) cannot be created and are zero-sum, capital must be created and is not zero-sum. Communism blatantly ignores this and has a zero-sum view on capital, meaning it suggests policies that fail to effectively produce new capital, and thus fail to effectively produce new wealth and prosperity. Further, when the state takes monopolistic control over land and capital (in addition to its existing monopoly on violence), it concentrates far too much power, which is why communist countries keep on becoming brutal dictatorships.

Capitalism, on the other hand, also fails to differentiate between land and capital, but in a different way. Instead of socializing both, it privatizes both, allowing massive rent-seeking and exploitation as a result of monopolization of land and natural resources. It also often willfully ignores that negative externalities and other market failures actually make society, on the net, poorer and less prosperous. Further, this concentration of wealth into the rent-seeking, monopolist class grants them more political power to make it even easier to rent-seek, further concentrating their own power and wealth.

What I want instead is a Georgist system that correctly identifies this distinction between land and capital, and then uses economically proven policies that respect the inherent differences between land and capital.