Henry George’s 1879 treatise on the cyclical nature of modern industrialized economies, and possible remedies for the resulting imbalances and inequities, was immensely influential. It gave rise to the idea that the economic value of land would accrue equally to all, enticing landowners to use their land productively.
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Henry George (1839-1897) was an American writer, politician, and economist. He inspired the philosophy of Georgism, a blend of capitalism and socialism which holds that the natural world belongs to all, while individuals own the fruits of their labor. These ideas lead to his creation of the single tax theory. He is best known for his 1879 study of inequality and cyclical patterns of economic boom and bust, Progress and Poverty.
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