The Tyranny of Words

The following article by Roy A. Foulke, retired vice president of Dun & Bradstreet, appeared in the New York Daily News in 1949, and was reprinted in the Henry George News in 1971. Thanks to Ed Dodson.

In Wealth of Nations, Adam Smith pointed out, over and over again, that all production is divided into three streams: one in the form of wages to employees, one in the form of rent to landowners, and one in the form of profits, to suppliers of capital. Continue reading