Unearned increment

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). "". The Nuttall Encyclopædia. London and New York: Frederick Warne. 

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