Re: Economic Rent As Sum of Externalities

On Sat, 9 Jun 2007 17:22:53 +0100, Andy F. in sci.econ
confessed to the world saying:

"jmh" <jmhall@xxxxxxxxxxxxxxxx> wrote in message


Technological advancement and dispursed ownership of land
should drive whatever rent the land owner gets to a minimum
within the society.

There's no reason to suppose that it should.In fact it may well do the
opposite. Any rise in labor productivity will lead to an increase in land
rent, other things being equal.

But other things are not equal and the classical
theory being promoted here also argues that
technology will reduce the rents earned.

The mistake is thinking that land is what captures all
the rents within a society.

jmh
.

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