The Principles of Economics, with Applications to Practical ProblemsFetter, Frank A. (Frank Albert)
General
The Principles of Economics, with Applications to Practical Problems
Fetter, Frank A. (Frank Albert)
Economics
The question is raised in many minds, If private property is not an
absolute right, what shall be its limits? What changes should be made in
it? The essential thought in the various attacks on the institution of
private property is that, because it occasions inequality in incomes, it
is not socially expedient. The conviction is growing that, in some
general way, incomes should correspond to, and reflect, social service.
It is well to consider more closely what the terms social expediency and
social service imply.
CHAPTER 39
INCOME AND SOCIAL SERVICE
§ I. INCOME FROM PROPERTY
[Sidenote: The justice of property questioned]
1. _Property rights must meet the test of social expediency._ If private
property is defended on the ground of social expediency, it must show
good social results. It is not a sacred thing; it is open to
examination, and must be judged by its fruits. Of all the forms of
income, that from property has been most strongly attacked. The thought
is that enjoyment of wealth should not be found apart from labor, and
that it should bear some proportion to services performed. The enjoyment
of an ample income by one who does no more than to draw checks or to
sign coupons seems to many minds to be unjust; and it is often
questioned whether there is any social service performed by the
receivers of the rent from land. Property seems in many cases to be
distributed without rule or reason. It does not correspond with beauty,
strength, wit, wisdom, temperance, gentleness, or charity. Since the
beginning of the Christian era, reformers have assailed and preached
against the prevailing inequality of wealth. The idea that incomes, if
not equal, should correspond to social service has always been present
in some vague way in the minds of men.
[Sidenote: Social effect of the right to give]
Public-domain text, read in full here on John Shaqi.
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