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 209 ground, and how exactly the amount of the surplus of produce (in value) over expenses is settled. There obviously cannot be a sur plus on the marginal land, when any other available land remains uncultivated, if we include in the labour the work done in the way of direction by the farmer himself, because it is assumed that what is received for the produce when no rent is paid will be just sufficient adequately to remunerate the whole of the factors engaged in working the land. The surplus derived from the other lands will evidently be the outcome of their differential advantages, and this surplus consequently will be the rent. In an attempt to settle these further points there is nothing to baffle those who have acquired deftness with the marginal method. Let us think of labour and capital as made up of doses of productive agents each of a given value. Thus let us mean by a dose of labour and capital 20s. spent to the best-known purpose on labour (including the farmer’s work), machinery, seed and other farming necessities in the working of the land. One dose, of course, might stand for much labour and little instrumental capital, while another dose might stand for little labour and much of the other things required in agriculture. Now

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