By 1886, the labor coalition was looking for a radical candidate for mayor, and they found one in Henry George, who by then had become a famous writer, known on four continents. Seven years earlier, he had published a book of economics called Progress and Poverty that during the last decades of the nineteenth century would outsell every book but the Bible. His chief contribution was to acquaint the lay American with the problem of “economic rent” in society. This was defined as revenue with no corresponding labor or productivity; economic rent was unearned income.
— I just read The Reign of the One Percenters by Christopher Ketcham. A great read, til he lazily blames “hipsters” for a lack of political motion/anger.
Earlier in the essay, Ketcham also says something which bridges nicely with the above quote and kinda killed me: “A study from the New Economics Foundation in England found that for every pound made in financial services in the city of London, roughly seven pounds of social wealth is lost.”
Yup! Doom!
Earlier in the essay, Ketcham also says something which bridges nicely with the above quote and kinda killed me: “A study from the New Economics Foundation in England found that for every pound made in financial services in the city of London, roughly seven pounds of social wealth is lost.”
Yup! Doom!
