The Americana; a universal reference library, comprising the arts and sciences, literature, history, biography, geography, commerce, etc., of the world (1908) (14596253480)

Identifier: americanaunivers14newy (find matches)
Title: The Americana; a universal reference library, comprising the arts and sciences, literature, history, biography, geography, commerce, etc., of the world
Year: 1908 (1900s)
Authors:
Subjects: Encyclopedias and dictionaries
Publisher: New York : Scientific American Compiling Dept.
Contributing Library: University of California Libraries
Digitizing Sponsor: Internet Archive



Text Appearing Before Image:
s the law of interest that the relationbetween wages and interest is determined bythe average power of increase which attachesto capital; as rent rises interest will fall aswages fall, that is, will be determined by themargin of cultivation. Thus the economic basisof the single tax theory is that wages andinterest in the last analysis are determined notby the productiveness of labor and capital, butby the value of land, and that as land becomesmore valuable (that is, the economic rentgreater), wages and interest will become rela-tively less. Therefore the only way to prevent thelandowners alone from reaping the benefit ofincrease in the value of land to the detriment oflabor and capital, is to make land common prop-erty: and this is best accomplished by societysappropriating all rent in the form of taxation,and thus obtaining for society the full benefitof increase in land values. The single tax isalso defended on the grounds of justice, andexpediency as a method of taxation, (i) From
Text Appearing After Image:
I. Street Scene in Singapore. 2. Malay Cimrt I Jnsiiie, Singapore. SINJIRLI the point of view of justice, the right of privateownership is given by labor only, and as landis in no way a product of mans labor, it shouldnot properly be owned by individuals, but equallyshared in by all, and as the value of land,according to the law of rent, is not absolute, butrelative to the best land which may be had forthe using; and the increase in value dependsupon increase in population and general improve-ment in the arts and sciences, this increase invalue should properly belong to society, as notthe result of any individuals labor. (2) As amethod of taxation the single tax has the ad-vantage of not bearing upon production becausethe value of land is not a product of any manslabor, but rather makes speculative rent impos-sible and the holding of land not in use un-profitable, so more land would be thrown opento the use of producers; another advantage isthat such a tax can be easily collected, for