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Notes

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1 1. Herbert Simon gave two estimates of the share of present US wealth that is attributable to co-inherited social capital: 80 and 90 percent. In “UBI and the Flat Tax,” Boston Review, October 1, 2000, http://bostonreview.net/forum/basic-income-all/herbert-simon-ubi-and-flat-tax, he estimated it was 90 percent. In his last public lecture, he dropped it to 80 percent, the figure I have quoted. https://inst.eecs.berkeley.edu/~cs195/fa14/assets/pdfs/simon_last_lecture.pdf.

2 2. William Easterly and Ross Levine, “Tropics, Germs, and Crops: How Endowments Influence Economic Development,” Journal of Monetary Economics, 50 (1), (January 2003), http://www.nyudri.org/research-index/2003/tropics.

3 3. Robert Costanza et al., “The Value of the World’s Ecosystem Services and Natural Capital” (1997), Nature, 387, May 15, 1997, London: 253 ff., https://www.researchgate.net/publication/229086194_The_Value_of_the_World’s_Ecosystem_Services_and_Natural_Capital.

4 4. The most recent “cap and dividend” legislation was introduced in June 2019 by Senator Chris van Hollen (D-Maryland) and Rep. Don Beyer (D-Virginia), https://www.vanhollen.senate.gov/imo/media/doc/Healthy%20Climate%20and%20Family%20Security%20Act.pdf.

5 5. As Guy Shrubsole recounts in Who Owns England?, thirty entities – families, corporations, duchies, and individuals – own half the land of England. This goes back to the eleventh century, when William the Conqueror replaced the existing aristocrats with his own. Their heirs, in turn, have ruled the English countryside ever since. As the sixth Duke of Westminster once put it, the best way to succeed in Britain is to “have an ancestor who was a very close friend of William the Conqueror.”

6 6. Thomas Paine, Agrarian Justice (1796), is available in many editions, collections and web sites, including the US Social Security Administration’s website, https://www.ssa.gov/history/paine4.html.

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