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Marx's Theory of Ground-Rent: A Suggested Reformulation

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dc.contributor.authorBasu, Deepankar
dc.contributor.departmentDepartment of Economics, UMass Amherst
dc.date2024-04-25T06:16:08.409
dc.date.accessioned2024-04-26T16:31:33Z
dc.date.available2020-12-02T00:00:00Z
dc.date.issued2020-01-01
dc.description.abstractThis paper develops a simple theoretical model to analyze Marx's theory of ground rent. Using the model, I demonstrate two important results. First, if we take capital as exogenous, then total ground-rent can be decomposed into the three components: differential rent of the first variety (DRI), differential rent of the second variety (DRII), and absolute rent (AR). Second, if we endogenize capital outlays using profit-maximizing behaviour of capitalist farmers, then absolute rent becomes zero. Thus, under reasonable behavioural assumptions about landlords and capitalist farmers, there will be no absolute rent in a capitalist economy.
dc.identifier.doihttps://doi.org/10.7275/20375438
dc.identifier.urihttps://hdl.handle.net/20.500.14394/22279
dc.relation.urlhttps://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1298&context=econ_workingpaper&unstamped=1
dc.rightsUMass Amherst Open Access Policy
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.source.issue2020-13
dc.source.statuspublished
dc.subjectground rent
dc.subjectdiferential rent
dc.subjectabsolute rent
dc.subjectPolitical Economy
dc.titleMarx's Theory of Ground-Rent: A Suggested Reformulation
dc.typearticle
dc.typearticle
digcom.contributor.authorisAuthorOfPublication|email:dbasu@econs.umass.edu|institution:Department of Economics, UMass Amherst|Basu, Deepankar
digcom.date.embargo2020-12-02T00:00:00-08:00
digcom.identifierecon_workingpaper/296
digcom.identifier.contextkey20375438
digcom.identifier.submissionpathecon_workingpaper/296
dspace.entity.typePublication
relation.isAuthorOfPublication43cb2d2a-4fa2-45e3-a5a0-746b6aad6849
relation.isAuthorOfPublication.latestForDiscovery43cb2d2a-4fa2-45e3-a5a0-746b6aad6849
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