Great Britain -- Politics and government -- 1837-1901; Liberalism -- Great Britain
Now to apply this principle to the adjustment of the claims of the
community on the one hand and the producers or inheritors of wealth on
the other would involve a discrimination of the factors of production
which is not easy to make in all instances. If we take the case of urban
land, referred to above, the distinction is tolerably clear. The value
of a site in London is something due essentially to London, not to the
landlord. More accurately a part of it is due to London, a part to the
British empire, a part, perhaps we should say, to Western civilization.
But while it would be impossible to disentangle these subsidiary
factors, the main point that the entire increment of value is due to one
social factor or another is sufficiently clear, and this explains why
Liberal opinion has fastened on the conception of site value as being
by right communal and not personal property. The monopoly value of
licensed premises, which is the direct creation of laws passed for the
control of the liquor traffic, is another case in point. The difficulty
which society finds in dealing with these cases is that it has allowed
these sources of wealth to pass out of its hands, and that property of
these kinds has freely passed from one man to another in the market, in
the belief that it stood and would stand on the same basis in law as any
other. Hence, it is not possible for society to insist on the whole of
its claim. It could only resume its full rights at the cost of great
hardship to individuals and a shock to the industrial system. What it
can do is to shift taxation step by step from the wealth due to
individual enterprise to the wealth that depends on its own collective
progress, thus by degrees regaining the ownership of the fruits of its
own collective work.
Public-domain text, read in full here on John Shaqi.
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