ADVERTISEMENTS: The Ricardian Theory of Rent: Assumption and Scarcity! The Ricardian theory of rent follows from the views of classical writers about the operation of law of diminishing returns in agriculture. Classical authors, West, Torrents, Malthus and Ricardo, each of them independently formulated the theory of differential rent. However, the classical theory of rent in […]
Source: The Ricardian Theory of Rent: Assumption and Scarcity
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