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 psychic income of individuals, therefore, is often made up of many
elements. Some parts are due to services performed by the person
himself. When one combs his own hair he is adding to his income.
Benjamin Franklin said it was better to teach a boy to shave himself
than to give him a thousand dollars. Other goods are the uses and fruits
of legally controlled wealth: chance finds, as gifts of value or lost
and abandoned goods; goods assigned to one by authority; wealth
inherited; illegal gains by robbery; goods secured on credit; gifts
either of things or of services. The uses of this university are a gift
forming a part, first, of the student's income, and, finally, of the
social income. Such gifts can be traced back to large-hearted,
public-spirited men like Ezra Cornell, but they must be looked upon as
coming from some one. This list, incomplete as it is, suggests that the
real income of most individuals has manifold sources. Let us undertake
to examine and analyze the various methods in actual use in the
distribution of income to the persons making up society.
§ II. METHODS OF PERSONAL DISTRIBUTION
[Sidenote: Compulsory distribution; violence]
1. _Distribution is sometimes compulsory, by force or fraud._ This crude
and primitive mode of distribution, the negation of personal liberty,
never has been quite eliminated. In every country an unhappily large
number of men from time to time break over into crime, from violence and
highway robbery down to sneak-thieving, pocket-picking, and bunco games.
Not more than ten per cent. of this criminal element is at any one time
in prison. This method of personal distribution, not hinted at in most
theories of distribution, determines a large part of the income of tens
of thousands of men in this country and concerns the distribution of
millions of dollars. These enemies of society appropriate whatever they
can, and the law stops them if it is able.
[Sidenote: Chattel slavery]
Slavery is distribution by legalized force, but the force is not
legalized by the consent of the victims. The evolution of the harsher
slavery may be traced through various forms of milder serfdom. There is
found an element of this in the freest existing societies; men unwilling
are forced to do things. A patent example is the convict on a
chain-gang, a slave to society as a penalty for his violation of its
commands. But some radical reformers to-day claim that present society
is wholly based on legalized force, and that the workingman is
essentially a slave. Their ideal cannot be realized without dissolving
social bonds and destroying civilization; yet the presence, even in our
society, of this forced, unwilling submission on the part of some of its
members cannot be ignored.
[Sidenote: War indemnities]
Public-domain text, read in full here on John Shaqi.
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