Industrial Depressions

Explains recurring economic crises as resulting from speculative advances in land values that choke production and reduce the earnings of labor and capital.

The chapter explicitly names industrial depressions as a key subject of inquiry.

The chapter focuses on explaining the recurring paroxysms of industrial depression, linking them to land speculation.

The chapter links speculative advance in land values to industrial depressions, suggesting that taxing land rent could prevent such crises.

The chapter asserts that the proposed tax reform would end recurring economic paroxysms that paralyze industry.