3 ms·
The law of rent[0] means that broad increases in productivity[1] will eventually just be captured by land. [0] - https://en.wikipedia.org/wiki/Law_of_rent http
by neilparikh 5y ago
The law of rent[0] means that broad increases in productivity[1] will eventually just be captured by land.
[0] - https://en.wikipedia.org/wiki/Law_of_rent https://en.wikipedia.org/wiki/Law_of_rent
[1] - ie. increases in productivity of everyone in the region rather than just a few individuals or industries
- beaconstudios 5y agoAlso applies to the iron law of wages where productivity gains are captured in profit and wages are held as low as the market can sustain.