Henry George self-publishes Progress and Poverty

Background. Henry George, an American political economist and journalist, wrote Progress and Poverty while holding office in San Francisco from 1876 to 1880. The work investigated the paradox of increasing inequality and poverty amid economic and technological progress. It examined the business cycle and proposed rent capture, such as land value taxation, as a remedy for social problems, distinguishing itself from nationalization ideas.

Publication and Reception. Published in 1879, the book was a great success, selling over three million copies. Jacob Riis explicitly marked the beginning of the Progressive Era awakening as 1879 due to this publication. In an 1897 observation, Hobson judged that George had exerted a powerful formative influence over English radicalism of the preceding fifteen years; Leo Tolstoy, for his part, praised Georgism as a movement rather than commenting on this book's reception, viewing it as reasonable, realistic, and a practical contribution to the enlightenment of human consciousness.

Global Impact. Progress and Poverty had a larger impact around the world in places such as Denmark, the United Kingdom, Australia, and New Zealand. Nobel laureate Gary Becker noted it was the first economics book he read, citing George's fame. Albert Einstein and Helen Keller also expressed admiration for the work, with Keller finding inspiration in George's philosophy.