Saturday, January 28, 2012

What did Henry George and Edward Bellamy propose to do about the unequal distribution of wealth?

Both Henry
George in Progress and Poverty, and Edward Bellamy in Looking
Backward
attempted to come up with innovation ways to deal with the social problems
caused by unequal distribution of wealth in the late nineteenth century.


Henry George travelled both to California and New York and noted that poverty and wealth were
both more extreme in the older New York. He also noted that population pressures in both places
meant that land prices were rising. This meant the owners of the land could extract more in
rents without adding any value, and the people renting the land, either to farm in the west or
to have living space in a New York tenement, were paying more for it. The wealth inequality was
greater in New York because the land owners had had a longer period in which to extract rents.
This led to a concentration of wealth in the hands of a few. He proposed allowing people
to...

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