There was a certain frisson in the air when Richard Werner, leading international academic on monetary reform and Fred Harrison eminent land value taxation economist both presented at the IU Conference in London yesterday These leading proponents of their subjects had a theme of 'secrecy' (Werner) and 'hidden knowledge' (Harrison) that surround their disciplines and both are tireless exposers of the long-established thrall in which ordinary people are held thereby - where the major players in banking and land ownership rake off their gains to the permanent impoverishment of society. The victims, being blinded by this status quo that has endured for centuries, meekly accepting that the recurring banking and property crises are seemingly held to be irrevocable laws of nature.
Both speakers have had similar career paths. For 20 years (Werner) and over 30 years (Harrison), having struck gold in their pursuit of reality and truth in matters of credit and banking and of land, respectively, have pursued the thread wherever it took them, despite the lack of recognition that might have been expected from their insights. These pioneers met for the first time in person at the School of Economic Science in Mandeville Place, London where the theme of the conference is: 'Why is so much wealth in the hands of so few?'. The Conference continues today and Fri 30th.
I will be opening up Werner's and Harrison's viewpoints in subsequent postings on this blog. Werner gave a fast and potted history of credit, beginning in ancient Babylon up to date. He also revealed the mechanism that Keynes overlooked in his prediction that wealth by the year 2028 would mean that no-one would need to work more that 15 hours a week. Harrison gave a heartfelt view of the fact that despite having accurately predicted the dates of the last two boom-bust cycle peaks he has been ignored by politicians whom he specifically warned. He also pointed out a vital flaw in Keynes' thinking: 'There is no land problem any more'.
This occasion was a highly important meeting. There is hope that these powerful streams for economic reform can find an integrated platform. Within the space of two hours these speakers occupied the same rostrum, but where they speaking from different premises? Link to this blog in days ahead.
James Roberston has long brought these two themes together. See his latest newsletter which has a last-minute UK election suggestion. See also The Free Lunch - Fairness with Freedom.