Unearned increment

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Unearned increment is an increase in the value of land or any property without expenditure of any kind on the part of the proprietor; it is an early statement of the notion of unearned income. It was coined by John Stuart Mill, who proposed taxing it so that it benefits every member of a society . Mill's concept was refined and developed by nineteenth-century economist Henry George in his book Progress and Poverty (1879).[1]

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References[edit]

  1. ^ "The Unearned Increment Tax and Land Ownership". The Nation. 18 November 1909. Retrieved 2011-11-15.

 This article incorporates text from a publication now in the public domainWood, James, ed. (1907). "Unearned increment". The Nuttall Encyclopædia. London and New York: Frederick Warne.