Progress and Poverty, Volumes I and II: An Inquiry into the Cause of Industrial Depressions and of Increase of Want with Increase of WealthGeorge, Henry
General
Progress and Poverty, Volumes I and II: An Inquiry into the Cause of Industrial Depressions and of Increase of Want with Increase of Wealth
George, Henry
Economics; Single tax
Now, if the vital forces of nature which give an advantage to the
element of time be the cause of interest, it would seem to follow that
this maximum rate of interest would be determined by the strength of
these forces and the extent to which they are engaged in production.
But while the reproductive force of nature seems to vary enormously,
as, for instance, between the salmon, which spawns thousands of eggs,
and the whale, which brings forth a single calf at intervals of years;
between the rabbit and the elephant, the thistle and the gigantic
redwood, it appears from the way the natural balance is maintained that
there is an equation between the reproductive and destructive forces of
nature, which in effect brings the principle of increase to a uniform
point. This natural balance man has within narrow limits the power
to disturb, and by the modification of natural conditions may avail
himself at will of the varying strength of the reproductive force in
nature. But when he does so, there arises from the wide scope of his
desires another principle which brings about in the increase of wealth
a similar equation and balance to that which is effected in nature
between the different forms of life. This equation exhibits itself
through values. If, in a country adapted to both, I go to raising
rabbits and you to raising horses, my rabbits may, until the natural
limit is reached, increase faster than your horses. But my capital will
not increase faster, for the effect of the varying rates of increase
will be to lower the value of rabbits as compared with horses, and to
increase the value of horses as compared with rabbits.
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