Chapter XIII: Rent

[71] Two or three short fragments are all that the author has left us on this important subject. The reason is, that he proposed, as he has told us, to set forth the views of Mr Carey of Philadelphia, in opposition to the theory of Ricardo.—«Editor.»

[72] Celebrated vineyard of Burgundy.—«Translator.»

[73] Of these intended developments none, unfortunately, exist; but we may be permitted to notice, briefly, the two principal consequences of the state of matters supposed by the author.

1. Two fields, the one cultivated, A, the other uncultivated, B, being supposed of identical quality, the amount of labour formerly devoted to the clearance of A is assumed as the necessary measure of the amount of labour required for the clearance of B. We may even say that, on account of our now superior knowledge of agriculture, of our implements, of our improved means of communication, etc., a ‹less› amount of labour would now be necessary to bring B into cultivation than was formerly required in the case of A. If land had value in itself, A would be worth all that it cost to bring it into culture, ‹plus something additional for its natural productive powers›; that is to say, much more than the sum now required to bring B into the same state. Now it is just the reverse. The field A is worth less since we buy it rather than bring B into cultivation. In purchasing A, then, we pay nothing for the natural productive powers, since the price does not even compensate the original cost of bringing it into cultivation.

2. If the field A produces 1000 measures of corn, the field B when cultivated must be supposed to produce the same quantity. The reason why A was formerly cultivated was, that formerly 1000 measures of corn amply remunerated all the labour required both for its original clearance and its annual cultivation. The reason why B is not cultivated is, that now 1000 measures of corn would not remunerate the same amount of labour, or even a less amount, as we have just before remarked.

And what does this show? Evidently that the value of human labour has risen in relation to corn; that a day’s labour is worth more wages estimated in corn. In other words, corn is obtained with less effort, and is exchanged for a less amount of labour; and the theory of ‹the progressive dearness of the means of subsistence is erroneous›.—«Editor.»

MONEY

[74] See the author’s brochure, ‹Maudit Argent›.—«Editor.»

CREDIT

[75] See the author’s brochure, ‹Gratuité du Credit›.—«Editor.»