unearned increment

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Farrell argued therefore that the case for taxing away the unearned increment of land rested not merely on economic considerations:
In economics textbooks 'land' has become subsumed as a form of 'capital', and rent has ceased to be regarded as an unearned increment, or as essentially different from profit on capital.
It provides a lucid summary of the concept of unearned increment (adopted by George from John Stuart Mill), and of the arguments for land value taxation.