Events

This presentation looks at the cost of collecting the income tax. The IRS overhead itself represents the direct cost to the government in generating this revenue. Beside that there is the burden put on the tax payer in preparing his return, in the case of an audit there may be the cost of representation before a tax court.  You also become aware of the vast amount of human resources wasted on this activity for the revenue generated.

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.

An injudicious tax offers a great temptation to smuggling. But the penalties of smuggling must rise in proportion to the temptation. The law, contrary to all the ordinary principles of justice, first creates the temptation, and then punishes those who yield to it…

— Adam Smith

Book V of Adam Smith’s classic is entitled “Of the Revenue of the Sovereign or Commonwealth,” includes the above as well as many thoughtful passages about what we nowadays call public finance.  Our Political Economy Book Club  will discuss this final part of Wealth of Nations on Wednesday, November 12.  You can download or read the book on line from several sources, borrow it from many public libraries, or purchase a copy inexpensively.

For further information or to let us know you’re coming, email PEBC coordinator Bob Matter or call 312 450 2906.

In 1831, Alexis de Tocqueville and Gustave de Beaumont were sent by the French government to study the American prison system. In his later letters Tocqueville indicates that he and Beaumont used their official business as a pretext to study American society instead. They arrived in New York City in May of that year and spent nine months traveling the United States, studying the prisons, and collecting information on American society, including its religious, political, and economic character.

— Wikipedia

Democracy in America was one of the products of this trip. It’s available in several translations, some free such as this one and this one, also free in audio format.  On March 29, the Political Economy Book Club will discuss volume 1.

PEBC meetings are free and open to everyone who has read and wishes to talk about the book under discussion. Convenor Bob Matter appreciates an RSVP if possible.

A subsequent meeting will discuss volume 2

Between 1948 and 1973, Americans’ real wages rose almost as fast as their productivity. After 1973, productivity grew 147% but wages rose only 19%. This raises two questions:

(1) If workers getting less, who is getting more?

(2) Is there a way to restore the balance?

To solve the problem of poverty, and the many other problems that follow from it, ordinary workers need higher wages. George Menninger describes how to raise wages without interfering in the free market and without taking anyone’s earnings.

George Menninger is an instructor at the Henry George School of Chicago, and attendees at this free program will have the opportunity to sign up for his Progress & Poverty course.

You can sign up for this free event thru Eventbrite, or RSVP directly by email.