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- Title
'UNEARNED INCREMENTS,' LAND TAXES, AND THE BUILDING TRADE.
- Authors
Anderson Jr., B. M.
- Abstract
The article focuses on the issues of unearned increments, land taxes and the building trade in the U.S. It has been argued by the opponents of the single tax that the unearned increment in land values is an incentive to building. This argument is reinforced with reference to the principle that earnings tend to be equal in different lines of investment, so that if the building trade offered the normal return, and, in addition, an increment in land value, there would be a tendency, under competitive conditions, for capital to crowd into the building trade. It is given that land whose value is increasing rapidly may very well be land of which the best possible uses are changing rapidly, and consequently land on which buildings may be expected to depreciate rapidly through obsolescence. The article states that an extra tax on land for the purpose of encouraging building might be similarly barren of results. It is believed that appreciating land does yield a low percentage on its capitalization, and that this fact adequately represents the working of the principle referred to, when account is taken of the speculative character of the unearned increment.
- Subjects
UNITED States; UNEARNED increment; PROPERTY tax; BUILDING trades; LAND value taxation; DEPRECIATION; LAND tenure; INVESTMENTS; CAPITAL
- Publication
Quarterly Journal of Economics, 1914, Vol 28, Issue 4, p811
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1885655