In any case most men are now agreed that the right of private property
cannot be left unfettered; it must be guarded against abuse. Society
cannot wisely permit it to stand as an obstacle to the general interest.
Even the right of private property, therefore, must bend to the good of
the community. Men are allowed to own property because their doing so
promotes the well-being of the whole people; the right should not go
further than that. It is for this reason that we place various
restrictions upon the right of private property, restrictions in the
interest of the public health, or for protection against fire, or for
the preservation of public morals. No one has the right to own and
maintain property that constitutes a public nuisance, such as an
unsanitary tenement house, for example, or a building that forms a fire
trap. The right of private property is entitled to respect only in so
far as it is exercised in keeping with its prime purpose, which is to
advance the interests of the whole people by giving each individual a
sufficient incentive to work and to save.
General References
H. C. ADAMS, _Description of Industry_, pp. 3-117; F. W. TAUSSIG,
_Principles of Economics_, Vol. I, pp. 1-110; H. R. SEAGER,
_Introduction to Economics_, 4th ed., pp. 1-121; R. T. ELY, _Outlines of
Economics_, 3rd ed., pp. 1-98; C. J. BULLOCK, _Introduction to the Study
of Economics_, pp. 115-179; 375-431; H. R. BURCH, _American Economic
Life_, pp. 1-37; 71-80; 315-335; T. N. CARVER, _Principles of National
Economy_, pp. 3-46.
Group Problems
=1. The effects of division of labor and the ways in which we may retain
its advantages while reducing its detrimental effects.= How division of
labor arose. The extent to which it is now carried in industry. Its
physical effects. Social, political, and economic effects. Its value.
How its defects can be overcome. The reduction of hours in certain
industries. Vocational education for the worker. The restriction of
child labor. The better organization of the labor market. Recreation for
the workers after work-hours. The merits and practical difficulties of
each plan. References: F. W. TAUSSIG, _Principles of Economics_, Vol. I,
pp. 30-48; _Thirteenth annual report of the United States Commissioner
of Labor on Hand and Machine Labor_ (for illustrative material); H. R.
SEAGER, _Introduction to Economics_, pp. 153-158; R. T. ELY, _The
Evolution of Industrial Society_, pp. 398-424. See also the references
given at end of chapters XX-XXI in this book.
=2. The justification of private property. References:= L. C. MARSHALL,
_Readings in Industrial Society_, pp. 144-223; 947-988; JOHN M. MECKLIN,
_Introduction to Social Ethics_, pp. 302-322; F. A. CLEVELAND and JOSEPH
SCHAFER, _Democracy in Reconstruction_, pp. 69-95; HERBERT SPENCER,
_Social Statics_, pp. 62-65.
Short Studies
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account