SMITH, RICARDO AND MARXIAN VIEW ON ECONOMIC ORIGIN OF ‘RENT OF LAND’

Sushant Kumar Singh

Abstract


Discuss in what way if any, the meaning of the category “rent of land” differs in the writings of David Ricardo on the one hand, and Adam Smith and Karl Marx on the other, paying particular attention to the question of the economic origin of rent. Ricardo reduced the rent to a purely technological category, which is redundant for the purpose of any insightful analysis. Whereas, Marx and Smith both has acknowledged the essentially social character of rent (class relation).


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References


K. Marx, Capital Vol. I, Vol. III

A. Smith, An Inquiry into the Nature and Causes of Wealth of Nations

D. Ricardo, On the Principles of Political Economy and Taxation

U. Patnaik, “Classical Theory of Rent and its Application to India,” in T.J. Byres Ed., Sharecropping and Sharecroppers

U. Patnaik, The Agrarian Question in Marx and his Successors Vol. I


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