Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
Chapter XVII. General Principles Of Fair Distribution.
_Wealth distributed, not welfare._—In considering the principles of fair
distribution among all the parties contributing to production of wealth,
it is necessary to remember that wealth and not welfare is the subject of
thought. A child may have equal right to welfare with his father, but
cannot in any sense have equal ownership of wealth. The welfare of a
complete imbecile may be the care of the state, but he can in no sense
control wealth. Distribution of wealth cannot, therefore, include the
subjects of charity, but must be confined to a study of the natural
relations between individual owners of wealth or individual contributors
to production, which make control of a portion of accumulated wealth
essential to individual welfare.
A pound of tea may include in its value the efforts of a hundred different
persons. What are the principles upon which those hundred people may be
fairly compensated by the actual consumer of the pound of tea? This
illustrates the complexity of the whole subject of distribution. No
drinker of tea would dare to settle the question of fair distribution
arbitrarily. No one would even offer a theory by which a perfect
settlement could be reached. Yet when the pound of tea is put upon the
pantry shelf, the fifty cents paid for it has already been divided into a
hundred unequal portions adjusted by some method of custom to meet the
ideas of every helper in the long list. Each has had some portion of the
wealth produced, though the distribution may have taken place in different
countries, under different laws and customs, through a period of months or
years. This distribution involves the whole question of industrial
freedom, and rests finally upon the principle of equity as applied to
ownership of one’s powers and the product of those powers. It also
involves, to a certain extent, the decision of what is properly wealth and
what is properly a part of universal welfare.
The important questions connected with the subject will not be
satisfactorily settled until a reasonable adjustment of all claims is
reached by the masses engaged in production. The modern discussions of the
interests of laborers are proof that the world is thinking more and more
of individual rights in property, and no sweeping assertions as to
inequity of property rights help to solve the questions. It is because
each individual has a distinct equity in what is produced in part by his
efforts that there is need of better adjustment. All reforms, therefore,
must be along the line of fair distribution, or fail of their end.
Public-domain text, read in full here on John Shaqi.
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