The Theoretical Background of Henry George's Value Theory*

Abstract . Henry George intended that his last work. The Science of Political Economy, (which his untimely death left unfinished), should recast economics in a new mold. He argued that if economics is the science of the nature of wealth and the laws of its production and distribution and if in present society there is some deep and widespread wrong in its distribution, if not in its producton, it is the office of an honest science to disclose that. He therefore sought a philosophical basis for an investigation into the nature of wealth which led him into an investigation of the idea of value. These investigations were preceded by an attempt to set out a philosophy of science with respect to one of the sciences, economics.     

Shop stewards in Transport House: a comment upon the incorporation of the rank and file

In the light of the currently prevalent view that shop stewards are becoming more involved in trade union government, the author suggests that we look more carefully at unverified assumptions of shop steward incorporation.     

Bank Real Estate Lending and the New England Capital Crunch

The stock of real estate loans held by New England banks has declined dramatically. Given the limited potential for real estate investments, weak demand for real estate loans is to be expected. However, supply as well as demand factors may account for some of the decline in bank real estate loans. This paper documents that bank lending for real estate may have been constrained by a capital crunch, whereby poorly capitalized banks shrank their assets, including real estate loans, to satisfy capital requirements. Because the loss of bank capital is so widespread in New England, bank-dependent borrowers may have difficulty obtaining real estate financing.     

Developing healthcare facilities for a changing environment

When approaching facility and real estate development, healthcare leaders should: Enhance clinical integration and ensure more patient-friendly facilities. Focus on a facility's business requirements and operating needs. Create a business plan that demonstrates how a project would help deliver better care at lower cost during a time of declining payment levels. Develop an approach that balances the needs of all stakeholders, including payers, staff, and patients.