Unearned increment is an increase in the value of land or any property without expenditure of any kind on the part of the proprietor; it is a early statement of the notion of unearned income. It was coined by John Stuart Mill, who proposed taxing it. Mill's concept was refined and developed by nineteenth-century economist Henry George in his book Progress and Poverty (1879).[1]
This article incorporates text from the public domain 1907 edition of The Nuttall Encyclopædia.