Outlines of Economic Theory
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In our eReader you can find the full English version of the book. Read Outlines of Economic Theory Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Outlines of Economic Theory
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■R^l^T— Continued 82. The relations of the rent of land and of the margins of utility and cultivation to the prices of agriculttiral products deserve examination. The statement of Ricardo is in most respects correct. '' Corn is not high because rent is paid, but rent is paid because corn is high. . . . No reduction would take place in the price of corn although landlords should OUTLINES OF ECONOMIC THEOEY forego the whole of their rent. If the high price of corn were the effect and not the caus...e of rent, prices would be propor- tionally influenced as lands were high or low, and rent would be a component part of the price. But that corn which is pro- duced by the greatest quantity of labour is the regulator of the price of corn; and rent does not and cannot enter in the least degree as a component part of the price." That is to say, that corn, the cost of production of which is more than remu- nerated by the market price, is the only corn which affords rent, rent, therefore, being paid at the expense of the producer's profits, and not by means of an increased price to the consumer.
What to read after Outlines of Economic Theory?
You can find similar books in the "Read Also" column, or choose other free books by Herbert Joseph Davenport to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
■R^l^T— Continued 82. The relations of the rent of land and of the margins of utility and cultivation to the prices of agriculttiral products deserve examination. The statement of Ricardo is in most respects correct. '' Corn is not high because rent is paid, but rent is paid because corn is high. . . . No reduction would take place in the price of corn although landlords should OUTLINES OF ECONOMIC THEOEY forego the whole of their rent. If the high price of corn were the effect and not the caus...e of rent, prices would be propor- tionally influenced as lands were high or low, and rent would be a component part of the price. But that corn which is pro- duced by the greatest quantity of labour is the regulator of the price of corn; and rent does not and cannot enter in the least degree as a component part of the price." That is to say, that corn, the cost of production of which is more than remu- nerated by the market price, is the only corn which affords rent, rent, therefore, being paid at the expense of the producer's profits, and not by means of an increased price to the consumer.
What to read after Outlines of Economic Theory?
You can find similar books in the "Read Also" column, or choose other free books by Herbert Joseph Davenport to read onlineMoreLess
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