Why Henry George had a point - from Edward Lucas in the Economist

A good article by Edward Lucas on the Economist blog, outlining the economic advantages but the considerable politicial difficulties of introducing Land Value Tax. One of the comments to the article makes the interesting point that China has substantial land taxes which no doubt increases the ability of the Chinese state to invest in infrastructure. Where better infrastructure leads to higher tax receipts, public investment flows. While western nations stagnate due to rent seeking behavior by land owners, the emerging economies in the East forge ahead.