While I’ve not actually seen this argument, I suspect one answer to the decline in popularity of Georgism might be found in the Coase Therom. Government taxing all land rends is merely a transfer of ownership and results in the known transfer aspect of the assignment of property rights in Coase’s example. But the allocative impact of that assignment is supposed to be zero, resources still get allocated to the highest valued use. As such, I would wonder if market prices (i.e., rental prices for a place to live) would actually change or that somehow more of the assumed withheld land actually comes to market.
While I’ve not actually seen this argument, I suspect one answer to the decline in popularity of Georgism might be found in the Coase Therom. Government taxing all land rends is merely a transfer of ownership and results in the known transfer aspect of the assignment of property rights in Coase’s example. But the allocative impact of that assignment is supposed to be zero, resources still get allocated to the highest valued use. As such, I would wonder if market prices (i.e., rental prices for a place to live) would actually change or that somehow more of the assumed withheld land actually comes to market.