Simply put, we currently tax people for making and giving things, whether by taxing their work, investment, or trade, which discourages and prevents people from satisfying the wants and needs of others as much as otherwise possible. At the same time, we also allow people to hoard things that we can never make more of; things that are finite. This is bad because we can’t increase the supply of these things to reduce their prices and offset that hoarding. Land‘s the most important example, but this also applies to other natural resources like mineral deposits or water rights, or even artificially finite things like patent rights over particular innovations too. This increases the costs of both production and living to the point of forcing whoever’s unlucky enough to be locked out from these things into poverty, while throwing a massive wrench into the functioning of the economy and heavily increasing inequality.

The Georgist solution is to flip the script: let individuals keep what they earn from producing and providing for others, but compensate society (or otherwise enact reforms) for being fenced off from what is finite; what they can’t produce more of. A lot of the issues we see today in our world can be chalked up to our horribly inefficient and unfair treatment of stifling production while allowing free, unearned wealth and privilege in what we can’t produce more of.

We already have several articles here covering the benefits and potential of Georgist policies, and as an extra resource https://gameofrent.com/ by Lars Doucet also offers excellent insights into the true power of Georgist policy.