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 .or & 207 . V , „ N ' port from the plotr of land to the marjtejv. In another case it may represent the value of the time saved by the occupant of the site through his being in a favourable positloh with respect to the people with whom he is doing business. In another case it may be connected with water supply or harbourage ; and in yet other cases it may represent the pleasantness of an environment, whether in climate, scenery or social amenities. It would be impossible to measure by an objective standard the quantity of intangible differential advantage, but in its actual measurement for practical purposes no difficulty is met with since the value of the differential advantage is automatically registered in the demands of consumers which express the degree of their preferences for different plots of land in view of the mixed advantages associated with each. Everybody is able to say how much he prefers one thing to another, though he may find it impossible to state why he prefers one thing to another. In the foregoing discussion the broad aspects of the theory of rent in its applica tion to land are tentatively blocked in ; it now remains to shew where the theory, as so far set forth, is imperfect, and how it must be

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