The Distribution of Wealth

The Distribution of Wealth Synopsis

Excerpt from The Distribution of Wealth: A Theory of Wages, Interest and Profits

It was the claim advanced by Mr. Henry George, that wages are fixed by the product which a man can create by tilling rentless land, that first led me to seek a method by which the product of labor every where may be disentangled from the product of cooperating agents and separately identified; and it was this quest which led to the attainment of the law that is here presented, according to which the wages of all labor tend, under perfectly free com petition, to equal the product that is separately attributable to the labor. The product of the final unit of labor is the same as that of every unit, separately considered; and if normal tendencies could work in perfection, it would be true not only of each unit, but of the working force as a whole, that its product and its pay are identical.

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