ShadyStump
Imperial Masterpiece
I've heard of him, but not read anything myself. I've heard of the idea before - base the Treasury on the value of the territory essentially - but starting from the present situation I think it would go horribly ary. It would require shifts in our cultural concepts of business, profit, property rights in general, and also the dismantling of our current economic system. Essentially, it requires that we start from a much more equitable and egalitarian point than we are now.The way I see it, we all have the right to the fruits of our own labor, but no one can take credit for creating the land itself. If you want exclusive use of the land, you should pay for it, but if you create wealth in the form of chattels, you should be entitled to keep it.
Are you familiar with the work of Henry George? I'm a fan of his idea of taxing the unimproved value of land.
That said, I am by no means well acquainted the theory. There may be some things I've not thought of.

