Institutions and Distribution: Ownership and the Identification of Rent

Authors

  • W. J. Samuels

DOI:

https://doi.org/10.25071/1874-6322.730

Abstract

Using the marginalist theory of David Ricardo and the institutionalist ideas of Richard Jones and Alfred Marshall, the article shows that rent theory is incomplete and fundamentally incoherent without an institutional specification of ownership. The sum of the supramarginal returns (Ricardian rent) is not necessarily to be equated with the rental incomes of landowners of record; the returns can accrue to others as well, depending on institutions (custom, power, law).

Published

1993-12-12

How to Cite

Samuels, W. J. (1993). Institutions and Distribution: Ownership and the Identification of Rent. Journal of Income Distribution®, 2(2). https://doi.org/10.25071/1874-6322.730

Issue

Section

Articles