An increase in the value of land or property without labour or expenditure on the part of the owner.
- But a larger equity problem is that sellers of development rights are being allowed to capture an unearned increment in land value brought on largely by public investment in infrastructure.
- He explained that where compensation of some form was to be provided for the loss of the unearned increment in land values, further economic distortion would result.
- George, like all other economists, used the term unearned increment to apply to increases in value that occurred separately from the things discussed by Harris.
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