...which is paid to the owner of ;' *Jland forjthe use of its original and indestructible powers. § 25. On the first settling of a country, in which there...command, there will be no rent; for no one would pay for tis use of land, when there was an abundant quantity not yet appropriated, and, therefore, at the disposal...

...cultivated. 102 The same view is taken by Mr. Ricardo.103 In the first settling of a country (he says) in which there is an abundance of rich and fertile land, a very small part of which is required to be cultivated, there will be no rent. When in the progress of society...

...subject, we must enquire into the nature of rent, and the laws by which its rise or fall is regulated. Rent is that portion of the produce of the earth,...will be no rent; for no one would pay for the use of land, when there was an abundant quantity not yet appropriated, and, therefore, at the disposal of...

...than sufficient. In this case u = 1, and no land yields rent. This state was described by Ricardo as: On the first settling of a country, in which there...the population can command, there will be no rent. (p. 69) At the second state which starts when the labourforce has reached a certain level, it is seen...

...substitution assumption, in particular, does not fit Ricardo at all. He himself has told us that:10 On the first settling of a country, in which there...the population can command, there will be no rent." Now if, for small L, there is no rent, it would seem to follow that marginal product, over an initial...

...necessary consequence."9 This dismal outlook is shared by Ricardo as well, most notably in his rent theory. "On the first settling of a country, in which there is an abundance of rich and fertile land," Ricardo argues, "there will be no rent," for the same reason that "nothing is given for the use of...

...the land, and in erecting such buildings as were necessary to secure and preserve the produce. . . . On the first settling of a country, in which there...will be no rent; for no one would pay for the use of land, when there was an abundant quantity not yet appropriated, and, therefore, at the disposal of...

...rent, Ricardo proceeds to consider how it arises. "On the first settling of a country," he writes, "in which there is an abundance of rich and fertile...cultivated for the support of the actual population," " there will be no rent ; for no one would pay for the use of land, when there was an abundant quantity...

...social development on natural rent. The effect of social progress on rent Ricardo thus explains: — 'On the first settling of a country in which there...population can command — there will be no rent. ... If all land had the same properties, if it were unlimited in quantity and uniform in quality, no...

...quality of the land, and in erecting such buildings as were necessary to secure and preserve the produce. On the first settling of a country, in which there is an abundance of 33 rich and fertile land, a very small proportion of which is required to be cultivated for the support...