Successful land speculation (also known as “real estate investment”) is really a matter of taking for yourself the gains that belong to the community. George Menninger is one of the many who have done it, but he’s exceptional in his understanding of what he did, as well as his sympathy for his victims. He’ll explain how the bad public policy he exploited not only made him rich, but led to continued poverty, unemployment, and even the recent economic meltdown.
Menninger is a Henry George School volunteer instructor, and this stand-alone session also serves as the introduction to his modern version of Progress & Poverty. After his talk, you may, if you wish, sign up for the five-session course.
Guided by HGS instructor Bob Jene, this tour starts with a look at the City of Chicago amenities on the lakefront in Grant Park, and their effect on land values in neighboring private properties especially along Prairie and Indiana Avenues south of Roosevelt. This is the museum campus area with a mixed style of housing. We continue down to the Central Station Area where there are some vintage mansions on Prairie Avenue. We will stop to look at assessor’s data on the value of units, properties and parking spaces and how they relate to location.
As farmland yields to “higher-value” uses, how (and how well and how inexpensively) will we eat? Bob Jene reviews data from a leading agricultural preservation organization, the American Farmland Trust (AFT). Among other things they buy development rights from landowners to insure continued farming use, and attempt to facilitate community supported agriculture which makes family farms more viable. A Georgist fiscal reform encourages more conservative and productive use of all land and reduces sprawl, thus preventing encroachment on farmland. An alliance with AFT would benefit us both.