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Progress and Poverty · Theme
Industrial Depressions
How Progress and Poverty develops Industrial Depressions.
Explains recurring economic crises as resulting from speculative advances in land values that choke production and reduce the earnings of labor and capital.
Where it surfaces
- Progress and Poverty
The chapter explicitly names industrial depressions as a key subject of inquiry.
- I: The Primary Cause of Recurring Paroxysms of Industrial Depression
The chapter focuses on explaining the recurring paroxysms of industrial depression, linking them to land speculation.
- I: The Effect of Taxes Upon Production
The chapter links speculative advance in land values to industrial depressions, suggesting that taxing land rent could prevent such crises.
- Of the Effect Upon the Production of Wealth
The chapter asserts that the proposed tax reform would end recurring economic paroxysms that paralyze industry.