By Francis K. Peddle,William S. Peirce,Alexandra W. Lough
Volume II of this sequence provides the unabridged textual content ofProgress and Poverty, arguably the main influential paintings of Henry George. the unique textual content is supplemented via notes which clarify the alterations George made in the course of his lifetime and the various references he made to heritage, literature, economics, and public coverage. a brand new index augments accessibility to the textual content and key phrases. The introductory essay, “The Rhetoric and the Remedy,” through sequence co-editor William S. Peirce, presents an summary of the old context for George’s philosophy of economics and summarizes the argument of Progress and Poverty in the framework of the commercial theories of his day. It then appears at a number of the early reactions through major economists and opinion makers to George’s fervent and eloquent demand financial justice.
Henry George wroteProgress and Poverty with the intention to establish and get to the bottom of the nice paradox of recent business lifestyles. How was once it attainable for abject poverty, monetary instability, and severe fiscal inequality to co-exist with emerging productiveness and technological growth? He analyzed and rejected the generally held ideals that poverty unavoidably from the legislation of economics or from a Darwinian fight for survival of the fittest. George concluded that on the middle of this difficulty used to be how society handled typical assets, particularly city land. He didn't succumb to the panacea of arbitrarily confiscating estate or taking from the wealthy to provide to the bad. George argued that taxes on efficient hard work and capital can be tremendously decreased. His “sovereign treatment” declared that public items should be correctly funded from the returns to land and different average assets. The actions of society as a complete provide land its price. it really is hence either equitable and effective for the group to tax or recapture land values to aid the actions of government.