array(4 items)
   caller => 'TYPO3\CMS\Core\Database\DatabaseConnection::exec_SELECTquery' (60 chars)
   ERROR => 'You have an error in your SQL syntax; check the manual that corresponds to y
      our MariaDB server version for the right syntax to use near 'FROM tx_news_do
      main_model_news WHERE pid=-1 AND t3ver_oid=0 AND t3ver_wsid=0 AND' at line 1
' (228 chars) lastBuiltQuery => 'SELECT FROM tx_news_domain_model_news WHERE pid=-1 AND t3ver_oid=0 AND t3ve
      r_wsid=0 AND tx_news_domain_model_news.deleted=0 LIMIT 1
' (132 chars) debug_backtrace => '{closure}#34 // TYPO3\CMS\Frontend\Http\Application->run#33 // TYPO3\CMS\Cor
      e\Core\Bootstrap->handleRequest#78 // TYPO3\CMS\Frontend\Http\RequestHandler
      ->handleRequest#311 // TYPO3\CMS\Frontend\Page\PageGenerator::renderContent#
      216 // TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->cObjGet#210 /
      / TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->cObjGetSingle#805
      // TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->render#859 // TYP
      O3\CMS\Frontend\ContentObject\FluidTemplateContentObject->render#943 // TYPO
      3\CMS\Frontend\ContentObject\FluidTemplateContentObject->getContentObjectVar
      iables#97 // TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->cObjGet
      Single#263 // TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->render
      #859 // TYPO3\CMS\Frontend\ContentObject\ContentContentObject->render#943 //
       TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->cObjGetSingle#97 //
       TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->cObjGetSingle#841 /
      / TYPO3\CMS\Frontend\ContentObject\ContentObjectRenderer->render#859 // TYPO
      3\CMS\Frontend\ContentObject\CaseContentObject->render#943 // TYPO3\CMS\Fron
      tend\ContentObject\ContentObjectRenderer->cObjGetSingle#44 // TYPO3\CMS\Fron
      tend\ContentObject\ContentObjectRenderer->render#859 // TYPO3\CMS\Frontend\C
      ontentObject\ContentObjectArrayContentObject->render#943 // TYPO3\CMS\Fronte
      nd\ContentObject\ContentObjectRenderer->cObjGet#41 // TYPO3\CMS\Frontend\Con
      tentObject\ContentObjectRenderer->cObjGetSingle#805 // TYPO3\CMS\Frontend\Co
      ntentObject\ContentObjectRenderer->render#859 // TYPO3\CMS\Frontend\ContentO
      bject\CaseContentObject->render#943 // TYPO3\CMS\Frontend\ContentObject\Cont
      entObjectRenderer->cObjGetSingle#44 // TYPO3\CMS\Frontend\ContentObject\Cont
      entObjectRenderer->render#859 // TYPO3\CMS\Frontend\ContentObject\UserConten
      tObject->render#943 // TYPO3\CMS\Frontend\ContentObject\ContentObjectRendere
      r->callUserFunction#40 // call_user_func_array#7322 // TYPO3\CMS\Extbase\Cor
      e\Bootstrap->run# // TYP...
' (4943 chars)
Financing public capital when rents are back: a macroeconomic Henry George Theorem - Mercator Research Institute on Global Commons and Climate Change (MCC)

Mattauch, L., Siegmeier, J., Edenhofer, O., Creutzig, F.

Financing public capital when rents are back: a macroeconomic Henry George Theorem

in Finanzarchiv: Public Finance Analysis, 25.06.2018

Peer Review , Director , Land Use, Infrastructure and Transport

By taxing rents, governments can avoid a trade-off between productivity-enhancing public investment and efficiency losses from raising funds. However, it is unclear whether the rents present in a growing economy are sufficient to finance the socially optimal investment. We prove that the social optimum can be attained if the income share from a fixed factor, such as land, exceeds the public investment requirement. We thus translate the Henry George Theorem from urban economics to neoclassical and endogenous growth settings: here, the socially optimal land rent tax rate is below 100%. Our finding may address the underfunding of national infrastructure investments.