-11. HOW TO BALANCE THE DISTRIBUTION OF WEALTH?
In a United States that was so economically productive, why were there so many people in poverty and so few who were wealthy? Economist and social reformer Henry George found an answer to this question by analysing the workings of capitalism. He concluded that economic progress tremendously increases the value of land. Those who own the land reap great, unearned rewards from rent. This unearned prosperity for a few, George felt, was an obstacle to economic growth because it suppressed productivity. His solution, published in his book 'Progress and Poverty' in 1879, was to have government tax away all rent. This "single tax" would bring in enough revenue so that an other taxes could be eliminated, and it would end the desire to speculate in land values. The publication of 'Progress and Poverty' made George instantly famous. He made lecture tours in America, England, Ireland and Australia, and he was nearly elected mayor of New York City in 1886.
According to the passage, Henry George found out why so few people were wealthy in the United States by ......... .
reading the book 'Progress and Poverty'
studying the process of capitalism
attending lectures in America, England, Ireland and Australia
thinking like a capitalist rather than an economist
listening to rich people who owned a lot of land
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