Theories of Agricultural Rent within the Surplus Approach

Abstract

The central argument of the paper is that a rent theory be considered in light of the value theory on which it rests. Ricardo's pure labor theory of value cannot embrace the productive use of inter-mediate goods, while inconsistencies in Marx's value theory keep him from developing a workable theory of agricultural rent. Only Sraffa's value theory is both general and consistent enough to provide for a general and consistent rent theory.