A Remark on Intensive Differential Rent and the Labour Theory of Value in Ricardo

Saverio Fratini

Bulletin of Political Economy, 2012, vol. 6, issue 2, 133-147

Abstract: In the Principles, Ricardo defended his labour theory of value by arguing that even where all cultivated land pays rent, the last dose of capital employed on the land does not and there is therefore no rent in the price of the product of this capital. We will show, on the contrary, that the intensive differential rent paid on land of the worst quality under cultivation enters into the agricultural product price and so, even in the most favourable case, commodities are no longer exchanged at prices based on the quantities of labour they embody.

Date: 2012
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Working Paper: A remark on intensive differential rent and the labour theory of value in Ricardo (2010)
Working Paper: A Remark on Intensive Differential Rent and the Labour Theory of Value in Ricardo (2009)
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