Page:David Atkins - The Economics of Freedom (1924).pdf/53

 of democracy: at these points there were repeated evidences of economic responsibility shorn of power, and still more definite indications of the existence in the system of economic power unchecked by responsibility. Where does such power secrete itself? This is the question to be faced; for it arose in discussing monopoly, pernicious taxation, inadequate currency, unemployment and imperialism as symptoms of our derangement. At some point the proper balance between power and responsibility is not maintained, and there follow numerous distortions.

To check actual monopoly, we realized we had to discover economic power, or control of basic value, subject to no threat of duplication, and deal with this. To readjust taxation, we had to ascertain the distribution of economic power that we might assess pro rata responsibility. To validate our currency, we required tangible factors determining total basic value so that we might be able to employ a token, or pledge, which represents some definite part of this total, so as to check debasement.

There is only one fixed factor within democracy that meets these requirements, namely, acreage, or foothold: this factor, as modified by population, provides our only scientific means of measuring basic economic power, or control of value, in definite terms, over an extended period of time.

Gold may be dug from the ground by any one who is lucky: labor strives and becomes capital, a wasting factor, or sulks and ceases to be a factor; genius opens like a flower and is gone; goods perish and our so-called values change. As for the endless flight of hours, we rob their hive of the accumulation of ages for the needs of a day. Only acreage, or the measure of foothold, stands unaltered within the political boundaries; and as soon as we realize that this is at all times constant, it is purely academic exercise to waste much time over unmeasurable factors. Foothold or acreage is not “land-value,” for such value can be increased and diminished—acreage cannot.

The duty we have so far fulfilled, and our only reason for pride, is that we have not measurably impaired the heritage of political freedom which has been entrusted to us; and, thanks to our belligerent idealism, are not likely to do so. After all,