Frank Knight's Proposal to End Distinctions among Factors of Production and His Objection to the Single Tax
考察了奈特反对亨利·乔治土地单一税的观点,指出奈特忽略了用竞争分配土地产权时的效率问题,而该问题只有在土地与资本概念分离时才显现。
Frank Knight claimed that there are no economically interesting distinctions among factors of production, and he also strongly opposed Henry George’s proposal to implement a Single Tax on land value. We locate and examine the Single Tax in Knight’s framework of property rights and argue that Knight ignored an inefficiency in the original appropriation of land that occurs when competition is used to assign property rights in land. This inefficiency is visible only if land and capital are conceptually separated.