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 205 conveyed along costly aqueducts. To be strictly logical, if we take the narrower view of rent, we ought to say that the marginal land earns its marginal worth (a scarcity price) and not rent, but that super-marginal land earns its marginal worth plus an extra sum (differential rent) which measures the differential advantages enjoyed by it, that is to say, a sum which would render the substi tution of that land for marginal land a matter of indifference. It goes without saying that the payment for land of a sum representing its marginal worth is a phenomenon foreign to our ex perience. Even under conditions of such a kind that a community is dependent for its food upon the produce of its own country, it will generally be found that there is some land of some quality, though it may be of a very low quality and very inconveniently located, which has not yet been brought under the plough or used for grazing. And when we come to modern conditions wherein all parts of the world are linked together by international trade, we find unlimited tracts of unoccupied land available for the pro duction of the food supply of the future population. Hence it is readily comprehen sible why it is that in economic writings

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