Broadly there are two types of income--earned income and unearned
income. Earned income is something for something--or return for goods
provided or service rendered. Unearned income is something for
nothing--an income derived from some monopoly, privilege, sinecure or
form of property ownership.
Property in persons or things has been a characteristic feature of all
civilizations. Property owners, receiving rents, interest, dividends, in
proportion to the amount of property which they own are not called upon
to make equivalent return in exchange for their property--based income.
This personal parasitism of property owners is aggravated by provisions
of property law under which the owners of property can give, sell or
bequeath these sources of unearned income to family members, friends,
associates.
Eventually, unearned income, handed on through generations, creates a
class or even a caste of citizens who live without rendering an
equivalent of services, on the labor of their fellows, adding a
significant amount to the total of overhead costs.
Wealth ownership, the exercise of power, living in luxury on unearned
income, add to overhead costs, but are accepted as respectable in
civilized communities. Another and far less respectable form of social
parasitism is the manipulation of social forces in a way that will bring
the operator more than a fair share of social income with no equivalent
in service.
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