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As such, the existence of property income based on private property forms the basis for the class division in capitalist economies. One economic perspective is to bring productive property under public ownership so that each citizen would receive a share of the property income in addition to their normal wage or salary (see: Social dividend).
Unearned income is a term coined by Henry George to refer to income gained through ownership of land and other monopoly. Today the term often refers to income received by virtue of owning property (known as property income ), inheritance , pensions and payments received from public welfare .
Landed property was a key element of feudalism, and freed the owner for other tasks, such as government administration, military service, the practice of law, or religious practices. In later times, the dominant role of landed estates as a basis of public service faded.
Land reform – Changing of laws, regulations, or customs regarding land ownership; Land value tax – Levy on the unimproved value of land; Means of production – Inputs used in the production of goods and services with economic value; Magic: The Gathering#Luck vs. skill – Collectible card game; Property rights (economics) – Economics concept
When, for instance, a property is rezoned for higher-value uses, or nearby public improvements raise the value of a piece of private land, a property owner is "bettered" due to the actions of others. Because of this, capturing the value of betterment for the public through taxation or other means is a common policy approach.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The idea that making land productive serves as the basis of property rights establishes the corollary that the failure to improve land could mean forfeiting property rights. Under Locke's theory, "[e]ven if land is occupied by indigenous peoples, and even if they make use of the land themselves, their land is still open to legitimate colonial ...
A mining claim is the claim of the right to extract minerals from a tract of public land. In the United States, the practice began with the California gold rush of 1849. In the absence of organized government, the miners in each new mining camp made up their own rules, and to a large extent adopted Mexican mining law.