On The Principles of Political Economy, and TaxationRicardo, David
General
On The Principles of Political Economy, and Taxation
Ricardo, David
Economics
70 and 100 = 30 } { 100
70 and 90 = 20 } { 90
70 and 80 = 10 } whilst the produce { 80
-- } would be 340 { 70
60 } { ---
{ 340
and while I employed these portions, the rent would remain the same,
although the produce of each should have an equal augmentation. If,
instead of 100, 90, 80, 70, the produce should be increased to 125, 115,
105, 95, the rent would still be 60, or the difference between
95 and 125 = 30 } { 125
95 and 115 = 20 } whilst the produce { 115
95 and 105 = 10 } would be increased { 105
-- } to 440 { 95
60 } { ---
{ 440
But with such an increase of produce, without an increase of demand,
there could be no motive for employing so much capital on the land; one
portion would be withdrawn, and consequently the last portion of capital
would yield 105 instead of 95, and rent would fall to 30, or the
difference between
105 and 125 = 20 } whilst the produce would be still { 125
105 and 115 = 10 } adequate to the wants of the { 115
-- } population, for it would be 345 { 105
30 } quarters, or { ---
{ 345
the demand being only for 340 quarters.--But there are improvements
which may lower the relative value of produce without lowering the corn
rent, though they will lower the money rent of land. Such improvements
do not increase the productive powers of the land, but they enable us to
obtain its produce with less labour. They are rather directed to the
formation of the capital applied to the land, than to the cultivation of
the land itself. Improvements in agricultural implements, such as the
plough and the threshing machine, economy in the use of horses employed
in husbandry, and a better knowledge of the veterinary art, are of this
nature. Less capital, which is the same thing as less labour, will be
employed on the land; but to obtain the same produce, less land cannot
be cultivated. Whether improvements of this kind, however, affect corn
rent, must depend on the question, whether the difference between the
produce obtained by the employment of different portions of capital be
increased, stationary, or diminished. If four portions of capital, 50,
60, 70, 80, be employed on the land, giving each the same results, and
any improvement in the formation of such capital should enable me to
withdraw 5 from each, so that they should be 45, 55, 65, and 75, no
alteration would take place in the corn rent; but if the improvements
were such as to enable me to make the whole saving on the largest
portion of capital, that portion which is least productively employed,
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account