An Inquiry into the Nature and Progress of Rent, and the Principles by Which It is Regulated — John Shaqi
An Inquiry into the Nature and Progress of Rent, and the Principles by Which It is RegulatedMalthus, T. R. (Thomas Robert)
General
An Inquiry into the Nature and Progress of Rent, and the Principles by Which It is Regulated
Malthus, T. R. (Thomas Robert)
Rent
On the other hand, it will appear, that a fall of rents is as
necessarily connected with the throwing of inferior land out of
cultivation, and the continued deterioration of the land of a superior
quality; and that it is the natural and necessary consequence of causes,
which are the certain indications of poverty and decline, namely,
diminished capital, diminished population, a bad system of cultivation,
and the low price of raw produce.
If it be true, that cultivation cannot be extended but under such a
state of prices, compared with the expenses of production, as will allow
of an increase of rents, it follows naturally that under such a state
of relative prices as will occasion a fall of rents, cultivation must
decline. If the instruments of production become dearer, compared with
the price of produce, it is a certain sign that they are relatively
scarce; and in all those cases where a large quantity of them is
required, as in the cultivation of poor land, the means of procuring
them will be deficient, and the land will be thrown out of employment.
It appeared, that in the progress of cultivation and of increasing
rents, it was not necessary that all the instruments of production
should fall in price at the same time; and that the difference between
the price of produce and the expense of cultivation might increase,
although either the profits of stock or the wages of labour might be
higher, instead of lower.
In the same manner, when the produce of a country is declining, and
rents are falling, it is not necessary that all the instruments of
production should be dearer. In a declining or stationary country, one
most important instrument of production is always cheap, namely, labour;
but this cheapness of labour does not counterbalance the disadvantages
arising from the dearness of capital; a bad system of culture; and,
above all, a fall in the price of raw produce, greater than in the price
of the other branches of expenditure, which, in addition to labour, are
necessary to cultivation.
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