The marginalists who confronted land.(Conceptual Debates Regarding Land and Rent)(Essay)

From: The American Journal of Economics and Sociology | Date: January 1, 2008| Author: Foldvary, Fred E. | Copyright information

Although the neoclassical turn in economics demoted land as a factor, important economists of neoclassical thinking, from neoclassical predecessors such Hermann-Heinrich Gossen through figures such as Leon Walras, did view land as a distinct factor of production. Walras, in particular, favored the use of land rent for public revenue. This paper examines the treatment of land by several neoclassical and Austrian economists and shows how, although the neoclassical school today has managed to ...

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