Land: Difference between revisions
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Alongside [[labour]] land is also recognised by most(? Samuelson uses the phrase ''often called'', pp. 50) economists as a primary factor.<ref>Samuelson and Nordhaus ''Economics'', (1989).</ref> | Alongside [[labour]] land is also recognised by most(? Samuelson uses the phrase ''often called'', pp. 50) economists as a primary factor.<ref>Samuelson and Nordhaus ''Economics'', (1989).</ref> | ||
However, the Chicago School of economic thought seems to have been founded (and funded by J. D. Rockefeller) to eliminate the notion of ''land'' altogether from economics not to simly make it rank equal with the other two classical factors.<ref>Mason Gaffney in ''The Corruption Of Economics (1994) pp. 117-112.</ref> | |||
Revision as of 12:49, 17 June 2007
In economic theory, land is one of the three factors of production. The other factors are labour and capital.
Alongside labour land is also recognised by most(? Samuelson uses the phrase often called, pp. 50) economists as a primary factor.[1]
However, the Chicago School of economic thought seems to have been founded (and funded by J. D. Rockefeller) to eliminate the notion of land altogether from economics not to simly make it rank equal with the other two classical factors.[2]