Book contents
- Frontmatter
- Contents
- List of figures
- Acknowledgements
- Foreword by Richard Wilkinson
- one Introduction
- Part One A guide to wealth extraction
- Part Two Putting the rich in context: what determines what people get?
- Part Three How the rich got richer: their part in the crisis
- Part Four Rule by the rich, for the rich
- Part Five Ill-gotten and ill-spent: from consumption to CO2
- Conclusions
- Afterword
- Notes and sources
- Index
four - For rent … for what?
Published online by Cambridge University Press: 15 April 2023
- Frontmatter
- Contents
- List of figures
- Acknowledgements
- Foreword by Richard Wilkinson
- one Introduction
- Part One A guide to wealth extraction
- Part Two Putting the rich in context: what determines what people get?
- Part Three How the rich got richer: their part in the crisis
- Part Four Rule by the rich, for the rich
- Part Five Ill-gotten and ill-spent: from consumption to CO2
- Conclusions
- Afterword
- Notes and sources
- Index
Summary
As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they have not sowed, and demand a rent even for its natural produce. The wood of the forest, the grass of the field, and all the natural fruits of the earth, which, when land is held in common, cost the labourer only the trouble of gathering them, come, even to him, to have an additional price fixed upon them. He must then pay for the licence to gather them; and must give up to the landlord a portion of what his labour either collects or produces. This portion, or, what comes to the same thing, the price of this portion, constitutes the rent of land. (Adam Smith)
Men did not make the earth.… It is the value of the improvement only, and not the earth itself, that is individual property. (Tom Paine)
Roads are made, streets are made, railway services are improved, electric light turns night into day, electric trams glide swiftly to and fro, water is brought from reservoirs a hundred miles off in the mountains – and all the while the landlord sits still. Every one of those improvements is effected by the labour and at the cost of other people. Many of the most important are effected at the cost of the municipality and of the ratepayers. To not one of those improvements does the land monopolist as a land monopolist contribute, and yet by every one of them the value of his land is sensibly enhanced. He renders no service to the community, he contributes nothing to the general welfare; he contributes nothing even to the process from which his own enrichment is derived. … the unearned increment in land is reaped by the land monopolist in exact proportion, not to the service but to the disservice done. (Winston Churchill)
If land is owned by a minority, then because everybody needs land to live on, and new land can’t easily be produced, the landowners can charge others rent for the right to use ‘their’ land. As the land and any minerals or other useful properties that it has already exist, the rent is not a payment for the creation of something useful; there are no costs of production to pay for.
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- Why We Can't Afford the Rich , pp. 49 - 58Publisher: Bristol University PressPrint publication year: 2014