theory of distribution; classical economics; economic growth; wages fund; wages; interest; rent; poverty
The core of Henry George's economic theory appeared in his most widely-read book, Progress and Poverty. On the basis of his dramatic "single tax" theory, his work became widely known and gained some avid followers who endeavored to base policy on it. But the work was also of value in George's day and interest in our day because of its economic content. George was not a part of the academic economics establishment of his day and his theory was of strictly classical methodology, but it still had much to commend it. A simple model to present his concepts in more modern form is developed. On the basis of the diagrammatic techniques involved, George's theory of distribution is presented and evaluated.