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The "unearned increment" : what is meant by it?

Webb, Sidney (1891) The "unearned increment" : what is meant by it? Fabian tract (30). Fabian Society, London.

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The unearned increment from land is the amount added to its selling value by the mere increase of the community in population and productive power. Thus John Stuart Mill said "The ordinary progress of a society which increases in wealth, is at all times tending to augment the incomes of landlords ; to give them both a greater amount and a greater proportion of the wealth of the community, independently of any trouble or outlay incurred by themselves. They grow richer, as it were, in their sleep, without working, risking or economizing. What claim have they, on the general principle of social justice, to this accession of riches?" — Princrples of Political Economy. Book V. Chapter ii. § 5 (p. 492 of 1865 Edition). And Professor Thorold Rogers added: "Every permanent improvement of the soil, every railway and road, every bettering of the general condition of society, every facility given for production, every stimulus supplied to consumption, raises rent. The landowner sleeps, but thrives. He alone, among all the recipients in the distribution of products, owes everything to the labor of others, contributes nothing of his own. He inherits part of the fruits of present industry, and has appropriated the lion's share of accumulated intelligence." — Political Economy. Ch. xii. - Introductory paragraph of revised edition of August 1895.

Item Type: Book
Additional Information: First edition of pamphlet attributed to Sidney Webb by E. R. Pease. "Title from drop-head title; at head of which: Fabian Tract, No. 30. The Fabian Municipal Program No. 1" - COPAC. Full text available on British Library microfilm. Full text of 2nd ed. 1895 available at link.
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HT Communities. Classes. Races
Date Deposited: 17 May 2017 15:14
Last Modified: 26 May 2017 16:06

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