Sir Edward West On the Application of Capital to Land 1815
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121. 133. 154. 203 of the Commons' Reports, A. D. 1814. » 26 Sir Edward West the landlord seldom exceeds a || third, sometimes not a fourth part of the whole produce of the land. The rent of land, however, in all the improved parts of the country has been tripled and quadrupled since those ancient times, and this third or fourth part of the annual produce is, it seems, three or four times greater than the whole had been before. In the progress of improvement, rent, though it increases in propor...tion to the extent, diminishes in proportion to the produce of the land/* (See Smith, vol. Ii. P. 8. B. 2. C. 3. ) It is singular that after this distinct enunciation of the fact of the diminution of the rent in proportion to the gross produce, that the author of the Wealth of Nations should not only not have seen the conclusion to which this leads by a mere arithmetical operation, viz. That of the diminution of the net produce of land to the gross produce, but that in other parts of his work he should even lose sight of this fact of the diminution of the ratio of the rent to the gross produce of land.
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To quickly assess the difficulty of the text, read a short excerpt:
121. 133. 154. 203 of the Commons' Reports, A. D. 1814. » 26 Sir Edward West the landlord seldom exceeds a || third, sometimes not a fourth part of the whole produce of the land. The rent of land, however, in all the improved parts of the country has been tripled and quadrupled since those ancient times, and this third or fourth part of the annual produce is, it seems, three or four times greater than the whole had been before. In the progress of improvement, rent, though it increases in propor...tion to the extent, diminishes in proportion to the produce of the land/* (See Smith, vol. Ii. P. 8. B. 2. C. 3. ) It is singular that after this distinct enunciation of the fact of the diminution of the rent in proportion to the gross produce, that the author of the Wealth of Nations should not only not have seen the conclusion to which this leads by a mere arithmetical operation, viz. That of the diminution of the net produce of land to the gross produce, but that in other parts of his work he should even lose sight of this fact of the diminution of the ratio of the rent to the gross produce of land.
What to read after Sir Edward West On the Application of Capital to Land 1815?
You can find similar books in the "Read Also" column, or choose other free books by Edward West to read onlineMoreLess
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