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. Mill's concept was refined and developed by nineteenth-century economist Henry George in his book Progress and Poverty (1879).
This article incorporates text from a publication now in the public domain: Wood, James, ed. (1907). "article name needed". The Nuttall Encyclopædia. London and New York: Frederick Warne.
Famous quotes containing the word unearned:
“Let me just say, at once: I am not now nor have I ever been a white man. And, leaving aside the joys of unearned privilege, this leaves me feeling pretty good ...”
—June Jordan (b. 1936)