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ECONOMIC RENT AS A BASIS FOR A SINGLE LAND TAX Henry George, an American’ economist in his well-known book ‘Progress and Poverty’ (I 9 advocated a single tax on land rent to replace the numerous other taxes which ‘were then being levied....
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RENT IN A SOCIALIST STATE In a socialist state, private ownership in land will end, but a socialist state cannot do away with the concept of rent. Change of economic order from capitalism to socialism will. not turn scarce land into an unlimited quantity. Rent as an...
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SHARE OF WAGES IN THE NATIONAL INCOME Factors Affecting Share of Wages Among the factors affecting the share of wages in the national income we may mention the following; (i) Labour Productivity. Other things being equal, the wages per worker would be higher where the...
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WAGES UNDER FULL EMPLOYMENT When there is no full employment, pressure for increase in wage rates may lead to some reshuffling of demand for labour and hence of employment without upsetting the price system. For example. if as a result of increase in wages, there is...
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Low Wages of Women In most cases, women are paid lower wages for doing the same kind of work. There are several reasons for this: In the first place, it is due to long habit and custom. Until comparatively recently, a woman was regarded as a household drudge even in...
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WAGE DIFFERENTIALS We may summarise here the causes which create differences in wages in different employments professions, and localities : These may be due to different inborn qualities, education, training and conditions under which work is performed. When...
