Political economy

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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

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RENT 195 was regrettable ; but inevitable because it was discovered that the law determining the annual value of buildings, fences, gates, and artificial drainage systems, was no different fundamentally from the law deter mining the prices of other things freely produced. It scarcely need be remarked— but perhaps attention should be called to the point incidentally—that every value can theoretically be expressed as a total in a price, or as an income in terms of periodic payments. A price can easily be transformed into an annual payment and an annual payment into a purchase price. The only matter to settle is the number of years’ purchase which should be allowed in effecting the transformation ; and the number of years’ purchase is deducible from the durability of the thing in question and the ruling rate of interest. In order to distinguish rent in the restricted economic sense just described from rent in the ordinary sense, the former was occasionally spoken of as “ economic rent ” or “ rent of land.” The violence done to the implication of “ rent ” did not stop with the rejection of all payments for the improvement of land. Recent years have seen also an extension of the term’s denotation to make it include

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