Distributive Justice The Right and Wrong of Our Present Distribution of Wealth
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DISTRIBUTIVE JUSTICE
PREFACE
INTRODUCTORY CHAPTER
THE ELEMENTS AND SCOPE OF THE PROBLEM
THE ELEMENTS AND SCOPE OF THE PROBLEM
CHAPTER I THE LANDOWNER'S SHARE OF THE NATIONAL PRODUCT
Economic Rent Always Goes to the Landowner
Economic Rent and Commercial Rent
The Cause of Economic Rent
Economic Rent Always Goes to the Landowner
Economic Rent and Commercial Rent
The Cause of Economic Rent
CHAPTER II LANDOWNERSHIP IN HISTORY
No Private Ownership in Pre-Agricultural Conditions
How the Change Probably Took Place
Limited Character of Primitive Common Ownership
Private Ownership General in Historical Times
Conclusions from History
No Private Ownership in Pre-Agricultural Conditions
How the Change Probably Took Place
Limited Character of Primitive Common Ownership
Private Ownership General in Historical Times
Conclusions from History
CHAPTER III THE ARGUMENTS AGAINST PRIVATE LANDOWNERSHIP
Arguments by Socialists
Henry George's Attack on the Title of First Occupancy
His Defence of the Title of Labour
The Right of All Men to the Bounty of the Earth
The Alleged Right of the Community to Land Values
Arguments by Socialists
Henry George's Attack on the Title of First Occupancy
His Defence of the Title of Labour
The Right of All Men to the Bounty of the Earth
The Alleged Right of the Community to Land Values
CHAPTER IV PRIVATE OWNERSHIP THE BEST SYSTEM OF LAND TENURE
The Socialist Proposals Impracticable
Inferiority of the Single Tax System
The Socialist Proposals Impracticable
Inferiority of the Single Tax System
CHAPTER V PRIVATE LANDOWNERSHIP A NATURAL RIGHT
Three Principal Kinds of Natural Rights
Private Landownership Indirectly Necessary for Individual Welfare
Excessive Interpretations of the Right of Private Landownership
The Doctrine of the Fathers and Theologians
The Teaching of Pope Leo XIII
Three Principal Kinds of Natural Rights
Private Landownership Indirectly Necessary for Individual Welfare
Excessive Interpretations of the Right of Private Landownership
The Doctrine of the Fathers and Theologians
The Teaching of Pope Leo XIII
CHAPTER VI LIMITATIONS ON THE LANDOWNER'S RIGHT TO RENT
The Tenant's Right to a Decent Livelihood
The Labourer's Claim Upon the Rent
The Tenant's Right to a Decent Livelihood
The Labourer's Claim Upon the Rent
CHAPTER VII DEFECTS OF THE EXISTING LAND SYSTEM
Landownership and Monopoly
Excessive Gains from Private Landownership
Exclusion from the Land
Landownership and Monopoly
Excessive Gains from Private Landownership
Exclusion from the Land
CHAPTER VIII METHODS OF REFORMING OUR LAND SYSTEM
The Leasing System
Public Agricultural Lands
Public Ownership of Urban Land
Appropriating Future Increases of Land Value
Some Objections to the Increment Tax
The Morality of the Proposal
The German and British Increment Taxes
Transferring Other Taxes to Land
The Morality of the Plan
Amount of Taxes Practically Transferable
The Social Benefits of the Plan
A Supertax on Large Holdings
The Leasing System
Public Agricultural Lands
Public Ownership of Urban Land
Appropriating Future Increases of Land Value
Some Objections to the Increment Tax
The Morality of the Proposal
The German and British Increment Taxes
Transferring Other Taxes to Land
The Morality of the Plan
Amount of Taxes Practically Transferable
The Social Benefits of the Plan
A Supertax on Large Holdings
CHAPTER IX THE NATURE AND THE RATE OF INTEREST
Meaning of Capital and Capitalist
Meaning of Interest
The Rate of Interest
Meaning of Capital and Capitalist
Meaning of Interest
The Rate of Interest
CHAPTER X THE ALLEGED RIGHT OF LABOUR TO THE ENTIRE PRODUCT OF INDUSTRY
The Labour Theory of Value
The Right of Productivity
The Labour Theory of Value
The Right of Productivity
CHAPTER XI THE SOCIALIST SCHEME OF INDUSTRY
Socialist Inconsistency
Expropriating the Capitalists
Inefficient Industrial Leadership
Inefficient Labour
Attempted Replies to Objections
Restricting Individual Liberty
Socialist Inconsistency
Expropriating the Capitalists
Inefficient Industrial Leadership
Inefficient Labour
Attempted Replies to Objections
Restricting Individual Liberty
CHAPTER XII ALLEGED INTRINSIC JUSTIFICATIONS OF INTEREST
Attitude of the Church Toward Interest on Loans
Interest on Productive Capital
The Claims of Productivity
The Claims of Service
The Claims of Abstinence
Attitude of the Church Toward Interest on Loans
Interest on Productive Capital
The Claims of Productivity
The Claims of Service
The Claims of Abstinence
CHAPTER XIII SOCIAL AND PRESUMPTIVE JUSTIFICATIONS OF INTEREST
Limitations of the Sacrifice Principle
The Value of Capital in a No-Interest Régime
Whether the Present Rate of Interest Is Necessary
Whether at Least Two Per Cent. Is Necessary
Whether Any Interest Is Necessary
The State Is Justified in Permitting Interest
Civil Authorisation not Sufficient for Individual Justification
How the Interest-Taker Is Justified
Limitations of the Sacrifice Principle
The Value of Capital in a No-Interest Régime
Whether the Present Rate of Interest Is Necessary
Whether at Least Two Per Cent. Is Necessary
Whether Any Interest Is Necessary
The State Is Justified in Permitting Interest
Civil Authorisation not Sufficient for Individual Justification
How the Interest-Taker Is Justified
CHAPTER XIV CO-OPERATION AS A PARTIAL SOLVENT OF CAPITALISM
Reducing the Rate of Interest
Need for a Wider Distribution of Capital
The Essence of Co-operative Enterprise
Co-operative Credit Societies
Co-operative Agricultural Societies
Co-operative Mercantile Societies
Co-operation in Production
Advantages and Prospects of Co-operation
Reducing the Rate of Interest
Need for a Wider Distribution of Capital
The Essence of Co-operative Enterprise
Co-operative Credit Societies
Co-operative Agricultural Societies
Co-operative Mercantile Societies
Co-operation in Production
Advantages and Prospects of Co-operation
CHAPTER XV THE NATURE OF PROFITS
The Functions and Rewards of the Business Man
The Amount of Profits
Profits in the Joint-Stock Company
The Functions and Rewards of the Business Man
The Amount of Profits
Profits in the Joint-Stock Company
CHAPTER XVI THE PRINCIPAL CANONS OF DISTRIBUTIVE JUSTICE
The Canon of Equality
The Canon of Needs
The Canon of Efforts and Sacrifice
The Canon of Productivity
The Canon of Scarcity
The Canon of Human Welfare
The Canon of Equality
The Canon of Needs
The Canon of Efforts and Sacrifice
The Canon of Productivity
The Canon of Scarcity
The Canon of Human Welfare
CHAPTER XVII JUST PROFITS IN CONDITIONS OF COMPETITION
The Question of Indefinitely Large Profits
The Question of Minimum Profits
The Question of Superfluous Business Men
The Question of Indefinitely Large Profits
The Question of Minimum Profits
The Question of Superfluous Business Men
CHAPTER XVIII THE MORAL ASPECT OF MONOPOLY
Surplus and Excessive Profits
The Question of Monopolistic Efficiency
Discriminative Underselling
Exclusive-Sales Contracts
Discriminative Transportation Arrangements
Natural Monopolies
Methods of Preventing Monopolistic Injustice
Legalised Price Agreements
Surplus and Excessive Profits
The Question of Monopolistic Efficiency
Discriminative Underselling
Exclusive-Sales Contracts
Discriminative Transportation Arrangements
Natural Monopolies
Methods of Preventing Monopolistic Injustice
Legalised Price Agreements
CHAPTER XIX THE MORAL ASPECT OF STOCK WATERING
Injurious Effects of Stockwatering
The Moral Wrong
The "Innocent" Investor
Magnitude of Overcapitalisation
Injurious Effects of Stockwatering
The Moral Wrong
The "Innocent" Investor
Magnitude of Overcapitalisation
CHAPTER XX THE LEGAL LIMITATION OF FORTUNES
The Method of Direct Limitation
Limitation Through Progressive Taxation
The Proper Rate of Income and Inheritance Taxes
Effectiveness of Such Taxation
The Method of Direct Limitation
Limitation Through Progressive Taxation
The Proper Rate of Income and Inheritance Taxes
Effectiveness of Such Taxation
CHAPTER XXI THE DUTY OF DISTRIBUTING SUPERFLUOUS WEALTH
The Question of Distributing Some
The Question of Distributing All
Some Objections
A False Conception of Welfare and Superfluous Goods
The True Conception of Welfare
The Question of Distributing Some
The Question of Distributing All
Some Objections
A False Conception of Welfare and Superfluous Goods
The True Conception of Welfare
CHAPTER XXII SOME UNACCEPTABLE THEORIES OF WAGE-JUSTICE
I. The Prevailing-Rate Theory
Not in Harmony with Justice
Not in Harmony with Justice
II. Exchange-Equivalence Theories
The Rule of Equal Gains
The Rule of Free Contract
The Rule of Market Value
The Mediæval Theory
A Modern Variation of the Mediæval Theory
The Rule of Equal Gains
The Rule of Free Contract
The Rule of Market Value
The Mediæval Theory
A Modern Variation of the Mediæval Theory
III. Productivity Theories
Labour's Right to the Whole Product
Clark's Theory of Specific Productivity
Carver's Modified Version of Productivity
Labour's Right to the Whole Product
Clark's Theory of Specific Productivity
Carver's Modified Version of Productivity
I. The Prevailing-Rate Theory
Not in Harmony with Justice
Not in Harmony with Justice
II. Exchange-Equivalence Theories
The Rule of Equal Gains
The Rule of Free Contract
The Rule of Market Value
The Mediæval Theory
A Modern Variation of the Mediæval Theory
The Rule of Equal Gains
The Rule of Free Contract
The Rule of Market Value
The Mediæval Theory
A Modern Variation of the Mediæval Theory
III. Productivity Theories
Labour's Right to the Whole Product
Clark's Theory of Specific Productivity
Carver's Modified Version of Productivity
Labour's Right to the Whole Product
Clark's Theory of Specific Productivity
Carver's Modified Version of Productivity
CHAPTER XXIII THE MINIMUM OF JUSTICE: A LIVING WAGE
The Principle of Needs
Three Fundamental Principles
The Right to a Decent Livelihood
The Claim to a Decent Livelihood from a Present Occupation
The Labourer's Right to a Living Wage
When the Employer Is Unable to Pay a Living Wage
An Objection and Some Difficulties
The Family Living Wage
Other Arguments in Favour of a Living Wage
The Money Measure of a Living Wage
The Principle of Needs
Three Fundamental Principles
The Right to a Decent Livelihood
The Claim to a Decent Livelihood from a Present Occupation
The Labourer's Right to a Living Wage
When the Employer Is Unable to Pay a Living Wage
An Objection and Some Difficulties
The Family Living Wage
Other Arguments in Favour of a Living Wage
The Money Measure of a Living Wage
CHAPTER XXIV THE PROBLEM OF COMPLETE WAGE JUSTICE
Comparative Claims of Different Labour Groups
Wages Versus Profits
Wages Versus Interest
Wages Versus Prices
Concluding Remarks
Comparative Claims of Different Labour Groups
Wages Versus Profits
Wages Versus Interest
Wages Versus Prices
Concluding Remarks
CHAPTER XXV METHODS OF INCREASING WAGES
The Minimum Wage in Operation
The Question of Constitutionality
The Ethical and Political Aspects
The Economic Aspect
Opinions of Economists
Other Legislative Proposals
Labour Unions
Organisation Versus Legislation
Participation in Capital Ownership
The Minimum Wage in Operation
The Question of Constitutionality
The Ethical and Political Aspects
The Economic Aspect
Opinions of Economists
Other Legislative Proposals
Labour Unions
Organisation Versus Legislation
Participation in Capital Ownership
CHAPTER XXVI SUMMARY AND CONCLUSION
The Landowner and Rent
The Capitalist and Interest
The Business Man and Profits
The Labourer and Wages
Concluding Observations
The Landowner and Rent
The Capitalist and Interest
The Business Man and Profits
The Labourer and Wages
Concluding Observations
INDEX
FOOTNOTES:
FOOTNOTES:
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