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
That this upward movement in the value of all three kinds of land will
continue without serious interruption, seems to be as nearly certain
as any economic proposition that is dependent upon the future.
Although millions of acres of arable lands are still unoccupied in the
United States and Canada, the far greater part of them require a
comparatively large initial outlay for draining, clearing, irrigation,
etc., in order to become productive. Hence there is no likelihood that
they can be brought under cultivation fast enough to halt or greatly
retard the advancing values which follow upon the growth of population
and the increased demand for agricultural products. In all probability
the greater part of them will not come into use until the prices of
farm products have risen above the present level. Obviously this
supposes an increase in the value of all farm land, old and new. Nor
is the adoption of better methods of farming likely to check seriously
the upward movement. Between 1900 and 1910 the urban population of
America increased 34.8 per cent., as against a gain of only 21 per
cent. in the total population. This disproportionate growth in the
number of the city dwellers will if continued make certain what is in
any case extremely probable, a steady and considerable advance in
urban land values and rents.
The circumstance that these remarkable increases in land values are a
comparatively recent phenomenon has prevented them from receiving the
attention that they deserve, either from the general public or from
the students of economic and social problems. The total value of the
land of the country has increased steadily from decade to decade, but
so has the total value of capital, and even between 1900 and 1910 the
increase in the share of the capitalist was exactly equal to the
increase in the share of the landowner, that is, 91 per cent.[71]
Those persons who complacently make such comparisons overlook the new
and significant feature of the more recent advances in land value;
namely, that they are due in only a slight degree to an expansion of
the _area_ of land under consideration. The increases of value quoted
in the foregoing paragraphs are increases _per acre_ and _per urban
lot_, not increases derived from bringing new land under cultivation
or new tracts within municipal limits. On the other hand, the
increases in the value of capital, now as always, represent for the
most part concrete additions to the existing stock of productive
instruments. Except where monopoly holds sway, particular capital
instruments, unlike particular pieces of land, do not increase in
value. Hence the owner of a given amount of capital does not profit by
the advance in the total value of capital as the owner of the average
parcel of land profits by the general increase in the value of land.
This means that all those consumers of products who are not
landowners must pay an increasing tribute to those who are landed
proprietors.
Public-domain text, read in full here on John Shaqi.
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