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On Minimum Rents: Part 1, Marx and Absolute Rent

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  • Alan W. Evans

    (Centre for Spatial and Real Estate Economics, Faculty of Urban and Regional Studies, The University of Reading, Whiteknights (PO Box 219), Reading, Berkshire RG6 2AW, UK, a.w.evans@reading.ac.uk.)

Abstract

Marx suggests that land would not be rented to a tenant at less than some minimum rent which he calls absolute rent. This concept and Marx's arguments are analysed in this paper. It has been argued by some that absolute rent in Marxian economics derives from the fact that investment in agriculture is lower so that the organic composition of capital is lower. It is argued here that the low organic composition of capital in the Marxian schema is rather a consequence of the existence of absolute rent, and this in turn results from the landlord-tenant relationship. Marx himself stressed that if land were owner-occupied absolute rent would not exist—that it is a consequence of the system of land tenure—but provides no explanation as to why it should have this consequence. In an associated paper, modern economic analysis is used to explain why minimum rents will occur.

Suggested Citation

  • Alan W. Evans, 1999. "On Minimum Rents: Part 1, Marx and Absolute Rent," Urban Studies, Urban Studies Journal Limited, vol. 36(12), pages 2111-2120, November.
    • Handle: RePEc:sae:urbstu:v:36:y:1999:i:12:p:2111-2120
    DOI: 10.1080/0042098992575
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    References listed on IDEAS

    as
    1. M.C. Howard & John E King, 1991. "Marx, Jones, Rodbertus and The Theory of Absolute Rent," Working Papers 1991.07, School of Economics, La Trobe University.
    2. Alan W. Evans, 1973. "The Economics of Residential Location," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-01889-5, December.
    3. M.C. Howard & John E King, 1991. "Marx, Jones, Rodbertus and The Theory of Absolute Rent," Working Papers 1991.07 EDIRC Provider-In, School of Economics, La Trobe University.
    4. Alan W. Evans, 1991. "On Monopoly Rent," Land Economics, University of Wisconsin Press, vol. 67(1), pages 1-14.
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    Cited by:

    1. Li Tian, 2014. "Property Rights, Land Values and Urban Development," Books, Edward Elgar Publishing, number 15856.

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