A bit in the Philadelphia Inquirer of 1931-09-08 signed by Girard, describes an interesting point made by Harold Sudell:
"According to Harold Suddell, noted single-taxer, Herbert Spencer and I have made the same mistake.
I do not know if Herb would feel more foolish than I at this comparison.
Mr. Sudell insists that land is one thing which knocks cockeyed the old theory that you cannot eat your cake and have it.
While land grows in value it may also yield a good rate of interest on the investment.
In that way it beats plain, old fashioned compound interest. But, as Mr. Sudell says, if he had his way -- the way of all single-taxers -- all that land would get would be what it earns, never that potential "unearned increment," about which Henry George grew so eloquent.
Which policy, of course, would forever end any possible speculation in land. What would Miami do then for a living?
And there is no such thing as a free lunch ... when it comes for free, it is coming from someone else's labor.
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