Value And Distribution: An Historical, Critical, And Constructive Study in ...
Value And Distribution: An Historical, Critical, And Constructive Study in ...
C W Charles William Macfarlane
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"Meanwhile such of the old machinery as is in good repair may perhaps be kept at work ; but the income which it earns will bear no direct relation to its own expenses of production ; it will be the small excess of the selling value of the produce made by it over the wear and tear and other direct outlay involved; this income will be a Quasi-rent,* the value of which will be determined by the price of * Marshall accents the greater permanence of land rent, and so calls the differential earnings ...of capital
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