The New School of Economics changes the way leaders think about governance and taxation

TORONTO, May 17, 2018 /PRNewswire-iReach/ -- TORONTO, Canada, May 15th, 2018 - Economic Policy Analyst, Philip Allan, announced the release of his book, The New School of Economics. How did a housing market boom fuel such strong demand for this publication? The housing affordability crisis combined with looming economic uncertainty has led many looking for new political and economic ideologies. While the far ends of the political spectrum have tried to fill that void, many others look for something different.

Is it possible that a political-economic philosophy from more than 300 years ago is ready for a return to the spotlight? Philip Allan has proposed that ideas rooted in the ideas of 19th century Georgism (named for its chief proponent Henry George) and the 18thcentury Physiocrats might be surprisingly relevant for today's current divisive policy environment.

Allan's new book lays out the basic political-economic framework of the New Physiocrats who are urging a return to the ideas of the original Physiocrats. This group of thinkers enjoyed a period of intellectual renown in 18th century France, primarily for their innovative ideas about land taxation and economic rent. And, in turn, the Physiocrats derived their ideas from the Stoics of Ancient Greece, so there is a long historical tradition linking the New Physiocrats of today with the earliest period of flourishing democracy in the world.

One of the core underpinnings of this New Physiocratic framework – the notion that the state should stop taxing hard-working wage earners and entrepreneurs – is sure to resonate with just about anyone who has ever written a check to Uncle Sam around tax time. As Allan explains, the government should only tax income related to the land and nature, and not to personal labor and entrepreneurial income. This incentivizes to people to work more productively.

The adherents of this political ideology have a number of other innovative policy ideas that are designed to put more money in each citizen's pocket – literally. For example, The New Physiocratic League argues that the government should actually be making direct cash payments to the members of society who are creating the most value. The goal should be to regain and amplify earned income, which can then be reinvested back into society.

What's fascinating about the basic political platform of the New Physiocrats,  is that it is not designed to appeal to either the Left or the Right. And it's not meant as a centrist platform designed to attract voters who are tired of the rancorous debates of the Left and Right. Instead, it's intended as a way of radically re-thinking the way wealth is created, earned and distributed in a modern 21stcentury economy.

And the results of embracing the ideas found within "The New School of Economics" could have profound implications for the way society functions and even how it is structured. One fascinating insight from "The New School of Economics" is that the very way that our cities and suburbs are organized today is the result of a particular way of economic thinking. If you change this thinking, then you have a powerful way to re-think how cities and suburbs are organized, as well as what they look like. That concept is what the New Physiocrats refer to as democratizing our physical space.

These innovative policy ideas are already starting to gain traction. Shortly after the publication of "The New School of Economics," a group of followers and fans created the New Physiocratic League, complete with its own website and manifesto. And now it appears that this momentum is growing, as ideas from nearly 300 years ago once again gain mainstream traction.

Media Contact: Philip Allan, The New Physiocratic League, +359 877 544 855, contact@newphysiocrats.org

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SOURCE The New Physiocratic League



2018

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Books, Publishing & Information Services, Education, Higher Education


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