Principles of Political Economy, Vol. 2Roscher, Wilhelm
General
Principles of Political Economy, Vol. 2
Roscher, Wilhelm
Economics
[Footnote 157-5: In the beginning of the eighteenth century,
the counties in the neighborhood of London addressed a
petition to Parliament against the extension of the building
of turnpike roads which caused their rents to decline, from
the competition of distant districts. (_Adam Smith_, Wealth
of Nat., I, ch. 11, 1.) Compare _Sir J. Stewart_,
Principles, I, ch. 10. Improvements in transportation which
affect the longest and shortest roads to a market in an
absolutely equal degree, as, for instance, the bridging of a
river very near the market, leave rent unaffected. (_von
Mangoldt_, V. W. L., 480.)]
[Footnote 157-6: _Malthus_, Principles, 231 ff. If the
laboring class were to become satisfied with living on
potatoes instead of meat and bread as hitherto, rents would
immediately and greatly fall, since the necessities of the
people might then be obtained from a much smaller
superficies. But after a time, the consequent increase in
population might lead to a much higher rent than before;
since a great deal of land too unfertile for the cultivation
of corn might be sown with potatoes, and thus the limits of
cultivation be reached much later.]
[Footnote 157-7: In France, between 1797 and 1847, the
average price of wheat did not rise at all. _Hipp. Passy_
mentions pieces of land which produced scarcely 12
hectolitres of wheat, but which now produce 20--an increased
yield of 170 francs, attended by an increase in the cost of
only 75 francs. (Journal des Economistes, 15 Oct., 1848.)
Moreover, it may be that a not unimportant part of modern
rises in the price of corn may be accounted for by the
better quality of the corn caused by higher farming. (_Inama
Sternbeg_, Gesch. der Preise, 10 seq.) Such facts, readily
explainable by _Ricardo's_ theory, remove the objection of
_Carey_, _Banfield_ and others, that the condition of the
classes who own no land has, since the middle ages,
unquestionably improved. Political Economy would be simply a
theory of human degradation and impoverishment, if the law
of rent was not counteracted by opposing causes. (_Rœsler_,
Grundsätze, 210.) According to _Berens_, Krit.
Dogmengeschichte, 213, the actual highness of rent is to be
accounted for by the antagonism between the "soil-law
(_Bodengesetz_) of the limited power of vegetation," and the
"progress of civilization" (but surely only to the extent
that the latter improves the art of agriculture). Thus, too,
_John Stuart Mill_, Principles, I, ch. 12; II, ch. 11, 15
seq.; III, ch. 4 seq.; IV, ch. 2 ff.]
[Footnote 157-8: Thus, for instance, drainage works which,
where properly directed, have paid an interest of from 25 to
70 per cent. per annum in England and Belgium on the capital
invested.]
SECTION CLVIII.
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