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Progress: Poverty or Prosperity? Joining the Debate Between George and Marshall on the Effects of Economic Growth onthe Distribution of Income.
- Source :
- American Journal of Economics & Sociology; Dec2001, Vol. 60 Issue 5, p33, 22p
- Publication Year :
- 2001
-
Abstract
- The article focuses on the effects of economic growth on the distribution of income. Henry George and Alfred Marshall were among the most influential authors of the late 19th century. George's best-selling "Progress and Poverty" fueled many policy debates of the time; and Marshall's "Principles of Economics," the standard textbook for decades, laid the foundation for modern economics. Each recognized the other's influence. Not only were George and Marshall important figures in intellectual his tow, but they had an important common ground in their deep concern with poverty. Both considered poverty mentally and morally debasing in large part because of its general association with relentlessly hard manual labor. George and Marshall both believe that aided by a proper set of policies, progress can eliminate poverty. With a tax that appropriates rent from the unimproved value of land, George sweeps away all other taxes, all unearned and undeserved private income, poverty, greed, and only one aspect of private land ownership-its entitlement to residual income. With more public education and a higher sense of duty, Marshall's tamed competition gradually eliminates poverty and its attendant evils.
- Subjects :
- ECONOMIC development
INCOME inequality
POVERTY
PROGRESS
Subjects
Details
- Language :
- English
- ISSN :
- 00029246
- Volume :
- 60
- Issue :
- 5
- Database :
- Complementary Index
- Journal :
- American Journal of Economics & Sociology
- Publication Type :
- Academic Journal
- Accession number :
- 5854757
- Full Text :
- https://doi.org/10.1111/1536-7150.00136