Fundamental ~ (Smith, Ricardo, Marx)

Payment for a gift of nature Transfer payment between classes (3 classes)

Of differential rent (Ricardo)

Diminishing returns Equilibrium: equal marginal returns Perfect fluidity of capitals new technique at no cost Single (basic) product (corn) Worst land does not pay rent (and fixes price)

A note on absolute; monopoly rent

REJECTION OF CATEGORY RENT:
Price of the land= payment for location in (urban) space
     Private property, posited as a commodity

Marginalism: generalization of TRD

For all 'factors of production': capital, labour, land Deals with situations, not transformations: a-historical

Bibliography. Ricardo (1817), Chap 2, Marx (1867), III-VI-11; Deák (1987)