Hong Kong is free and prosperous, but no one can own land. What if we had proceeded on the same basis, not secure real property rights, but refuse to enforce them?
Would we be just as prosperous as Hong Kong but without the problems of this?
http://www.veoh.com/watch/v20797791nHKhnwhF
Give an hour view, fascinating.
Would we be just as prosperous as Hong Kong but without the problems of this?
http://www.veoh.com/watch/v20797791nHKhnwhF
Give an hour view, fascinating.
3 comments:
Never happen in the U.S.
What about enormous and abusive property taxes? Actually, landowners are effectively perpetual "renters" due to having to pay annual property taxes that never go away, even if the mortgage is paid off.
I have to confess I have no yet watched the video.
Was not the issue with Hong Kong that the government had previously owned (or still does) own all the land. When the British decided to make Hong Kong a "Laissez-faire" experiment the Hong Kong government sold land leases to fund themselves until the promised economic boom came, which it certainly did.
At which time they no longer had to could collect from their (relatively) low income tax rates?
I believe the town I live in currently, Irvine, had a similar situation with the Irvine company owning all the land and only selling off long term land leases.
http://www.foxnews.com/politics/2014/02/14/wyoming-officials-take-epa-to-court-after-ruling-gives-land-to-tribes/?intcmp=latestnews
Wyoming officials take EPA to court after ruling gives land to tribes.
"Food processing facilities could be able to operate without regulation." Hmmm, ... no FDA? They might be on to something here. Maybe someone could start a Hong Kong-type free trade zone in the U.S.?
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