Mere Land No Savior for Labor. [Liberty, May 7, 1887.] Here is a delicious bit of logic from Mr. George: If capital, a mere creature of labor, is such an oppressive thing, its creator, when free, can strangle it by refusing to reproduce it. The italics are mine. If capital is oppressive, it must be oppressive of labor. What difference does it make, then, what labor can do when free? The question is what it can do when oppressed by capital. Mr. George’s next sentence, to be sure, indicates that the freedom he refers to is freedom from land monopoly. But this does not improve his situation. He is enough of an economist to be very well aware that, whether it has land or not, labor which can get no capital—that is, which is oppressed by capital—can...
These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal A Loan is a Service On the one hand, it is very true, as you have unquestionably established, that a loan is a service. And as every service has a value, and, in consequence, is entitled by its nature to a reward, it follows that a loan ought to have its price, or, to use the technical phrase, ought to bear interest. But it is also true, and this truth is consistent with the preceding one, that he who tends, under the ordinary conditions of the professional lender, does not deprive himself, as you phrase it, of the capital which be lends. He lends it, on the contrary, precisely bec... (From : Anarchy Archives.)