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
Since the level of rent is fixed by forces outside the control of
labourers, employers, or landowners, the receivers thereof would be
unable to offset its decreased purchasing power by increasing its
amount. However, this situation would not be inherently unjust, nor
even inequitable. Like interest, rent is a "workless" income, and has
only a presumptive and hypothetical justification. Therefore, the
moral claim of the rent receiver to be protected against a decrease in
the purchasing power of his income, is inferior to the moral claim of
the labourer to use his economic power for the purpose of improving
his condition beyond the limits of welfare fixed by the "equitable
minimum." What is true of the rent receiver in this respect applies
likewise to the case of the capitalist. As we saw a few pages back,
the wage earners are morally free to take this course at the expense
of interest. Evidently they may do the same thing when the consequence
is merely a diminution in its purchasing power. To be sure, if capital
owners should regard their sacrifices in saving as not sufficiently
rewarded, owing either to the low rate or the low purchasing power of
interest, they would be free to diminish or discontinue saving until
the reduced supply of capital had brought about a rise in the rate of
interest. Should they refrain from this course they would show that
they were satisfied with the existing situation. Hence they would
suffer no wrong at the hands of the labourers who forced up wages at
the expense of prices.
Public-domain text, read in full here on John Shaqi.
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