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most capable operatives from getting the full 
value of their differential advantages ; but 
it must not be taken for granted that such 
restraints are necessarily without beneficial 
results. 
The personal rent enjoyed by an employer 
is naturally a more substantial quantity than 
any personal rent enjoyed by a workman. 
A very capable employer will ultimately have 
under his control a far greater quantity of 
agents in production than the marginal em 
ployer. Though the very capable employer 
with a small business might immensely magnify 
his earnings by enlarging it, the marginal 
employer would find that any attempt on his 
part to do the same would meet with loss 
instead of gain. 
Whether regarded broadly or narrowly, the 
rent paid for a productive agent does not deter 
mine the price of the thing to the creation of 
which it is instrumental. In this sentence we 
have presented to us one of the most famous 
dogmas of economics. Not uncommonly it 
has been expressed thus : “ rent does not enter 
into price.” In this form, however, it invites 
misunderstanding. The rent of farm land 
and business premises must come out of the 
receipts made up of the prices of things, since