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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198 POLITICAL ECONOMY what would be the payment for the marginal thing of the class (which, to distinguish it from “ differential rent,” can be called a “scarcity rent”). Of course, in a sense so- called scarcity rent is a payment for differential advantages, since persons who possess a rare thing enjoy differential advantages over those who have not got it and cannot get it. But in what follows, for the sake of convenience of terminology, I shall use “ differential advantage ” with the meaning intended when differential rent is distinguished from scarcity rent. At first, so as to limit the data to which attention must be given, we shall deal merely with the economic rent of land. We shall make a start with the simplest conditions conceivable. Let us imagine that the same amount of capital and labour is applied in cultivating any one acre of land in use in a country as any other. The fertility of a plot of ground has no influence over the degree of its cultivation, we premise ; and we assume, further, that the situation of a farm is a thing of no importance, and that consequently, in the matter of the choice of land, it is fertility alone that counts. Coming next to detail, let us suppose that the

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