Distributive Justice: The Right and Wrong of Our Present Distribution of WealthRyan, John A. (John Augustine)
PhilosophyChristian
Distributive Justice: The Right and Wrong of Our Present Distribution of Wealth
Ryan, John A. (John Augustine)
Economic history; Income distribution -- Moral and ethical aspects; Wealth -- Religious aspects
When all the labourers in an industry are receiving the "equitable
minimum," have they a right to exact anything more at the expense of
interest? By interest we mean, of course, the prevailing or
competitive rate that is received on productive capital--five or six
per cent. Any return to the owners of capital in excess of this rate
is properly called profits rather than interest, and its relation to
the claims of the labourers has received consideration in the
immediately preceding section of this chapter. The question, then, is
whether the labourers who are already getting the "equitable minimum"
would act justly in demanding and using their economic power to obtain
a part or all of the pure interest. No conclusive reason is available
to justify a negative answer. The title of the capitalist is only
presumptive and hypothetical, not certain and unconditional. It is,
indeed, sufficient to justify him in retaining interest that comes to
him through the ordinary processes of competition and bargaining; but
it is not of such definite and compelling moral efficacy as to render
the labourers guilty of injustice when they employ their economic
power to divert further interest from the coffers of the capitalist to
their own pockets. The interest-share of the product is morally
debatable as to its ownership. It is a sort of no-man's property (like
the rent of land antecedently to its legal assignment through the
institution of private landownership) which properly goes to the first
occupant as determined by the processes of bargaining between
employers and employés. If the capitalists get the interest-share
through these processes it rightfully belongs to them; if the
labourers who are already in possession of the "equitable minimum"
develop sufficient economic strength to get this debatable share they
may justly retain it as their own.
Public-domain text, read in full here on John Shaqi.
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