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Letter in Financial Times
Apr. 12th, 2019 12:23 amThe Financial Times printed a letter on April 11, which I quote:
Landowners’ wealth has not been honestly earned
Paul Bloustein (Letters, April 9) asks: “Why is capitalism so troublesome if the wealth it accrues is earned honestly, legally and without depriving others in unseemly ways.”
His 19th century compatriot Henry George answered that question in Progress and Poverty: An Inquiry into the Cause of Industrial Depressions and of Increase of Want with Increase of Wealth: The Remedy.
The wealth that cures to landowners is not honestly earned and it does deprive others of places to live and work. George’s “Remedy” is land value taxation, but I don’t suppose that the great real estate speculators will be too keen on that.
Carol Wilcox
Secretary,
Labour Land Campaign,
Christchurch, Dorset, UK
Landowners’ wealth has not been honestly earned
Paul Bloustein (Letters, April 9) asks: “Why is capitalism so troublesome if the wealth it accrues is earned honestly, legally and without depriving others in unseemly ways.”
His 19th century compatriot Henry George answered that question in Progress and Poverty: An Inquiry into the Cause of Industrial Depressions and of Increase of Want with Increase of Wealth: The Remedy.
The wealth that cures to landowners is not honestly earned and it does deprive others of places to live and work. George’s “Remedy” is land value taxation, but I don’t suppose that the great real estate speculators will be too keen on that.
Carol Wilcox
Secretary,
Labour Land Campaign,
Christchurch, Dorset, UK
