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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196 POLITICAL ECONOMY payments which neither the early economists nor the general public would have dreamt of regarding as rent. Nevertheless, the inclusion of these other payments is strictly as logical as the exclusion of certain payments had been. It was necessitated by the new dis coveries made in the course of the more careful modern analysis of value. The alter native was to introduce an entirely new symbol to indicate these other payments together with what early economists under stood by economic rent ; but inasmuch as the symbol “ rent ” qualified by the epithet “ economic,” had already become embedded in the phraseology of economic science, and the distinction between economic rent and rent in the ordinary sense was clearly recognised, it seemed most con venient not to discard the old word, but to broaden its application. The retention of the old word absolutely necessitated a broad ening of its application, because it was found that the law which governed payments for land governed also payments for certain other things. One could not speak of a law of rent unless one was prepared to designate these other payments as rent. What exactly these other payments are, we shall learn in due course.

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