Capital

Generally, "capital" is any durable, produced good that is being 'put to work' as an input in further production; capital is any productive asset engaged in the process of producing further value.

Examples include a factory and its machinery, financial assets that accrue value, or intellectual property such as patents.

insights

A $12k/year UBI funded via a 22% increase in consumption taxes would contract both capital and output. Split-rate/land taxation alleviates the property tax's distortionary effect on the land/capital ratio, increasing capital stock. Land represents about 40% of household assets in the U.S. Land in the U.S. accounts for 51.1% of the stock of non-financial assets. Codetermined firms have 40 - 50% larger fixed (long-term) capital stocks. Finnish codetermination had a neutral, or slightly positive, effect on firms' capital formation, as measured by fixed assets

sources

Voice at Work Labor In the Boardroom Post-Corona Balanced-Budget Super-Stimulus: The Case for Shifting Taxes onto Land Does Georgism Work? Part 1: Is Land Really A Big Deal? How "Smart" is the Split-Rate Property Tax? Evidence from Growth Patterns in Pennsylvania The Macroeconomic Effects of Universal Basic Income Programs

authors

Benjamin Schoefer Simon Jäger Jarkko Harju Jörg Heining Charles Goodhart Michael Hudson T. Nicolaus Tideman Michael Kumhof

reports

Codetermination Land Value Tax Basic Income