Political economy

Bibliographic data

Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

RENT 213 theory of rent, which holds in this particular case, holds also of payments for differential advantages of quite another kind. The foregoing demonstration is in fact an exposition by the method of example of the general theory of rent when rent is understood as payment for differential advantages. It will be comprehended that the same forces come into play when human factors in production are being dealt with as well as when land is being dealt with. Just as there are differences in respect of fertility between different plots of land, so there are differences in respect of capacity, industry and quickness between different persons. Take the case of a particular industry, and, to make it a strong case, suppose that those who work in it must have special ability. Naturally it is impossible to obtain for the industry an unlimited supply of labour of the highest quality. Employers must have recourse to labour of lower qualities if the trade is to attain to any magnitude, just as farmers must have recourse to some land which is not of the best sort. The least efficient operative may be termed the marginal operative, just as the least valuable land may be termed the marginal land. Through the working of the principle of substitution it is plain that the

Access restriction

Copyright

fullscreen: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation