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Is Marx's absolute rent due to a monopoly price?

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  • Saverio M. Fratini

Abstract

Absolute rent, in Marx's view, has an upper limit represented by the difference between the value and the price of production of agricultural commodities. The relevance of this limit was questioned by Bortkiewicz because of the difficulties concerning the argument which Marx based it on. The lack of this upper limit prompted some scholars to claim that there is no difference between absolute rent and a rent paid by a monopoly price. Referring to the classical/Marxian theory of monopoly price, we shall argue that it is still possible to distinguish absolute rent from a rent due to a monopoly price.

Suggested Citation

  • Saverio M. Fratini, 2018. "Is Marx's absolute rent due to a monopoly price?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(5), pages 961-985, September.
    • Handle: RePEc:taf:eujhet:v:25:y:2018:i:5:p:961-985
    DOI: 10.1080/09672567.2018.1449879
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    References listed on IDEAS

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    1. Negishi,Takashi, 1985. "Economic Theories in a Non-Walrasian Tradition," Cambridge Books, Cambridge University Press, number 9780521259675, January.
    2. Miguel D. Ramirez, 2009. "Marx's Theory of Ground Rent: A Critical Assessment," Contributions to Political Economy, Cambridge Political Economy Society, vol. 28(1), pages 71-91.
    3. Saverio M. Fratini, 2016. "Rent as a share of product and Sraffa’s price equations," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(2), pages 599-613.
    4. Howard, M. C. & King, J. E., 1992. "Marx, Jones, Rodbertus and the Theory of Absolute Rent," Journal of the History of Economic Thought, Cambridge University Press, vol. 14(1), pages 70-83, April.
    5. Pierangelo Garegnani, 2024. "Value and Distribution in the Classical Economists and Marx," Springer Studies in the History of Economic Thought, in: Roberto Ciccone (ed.), Capital Theory, the Surplus Approach, and Effective Demand, pages 305-340, Springer.
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    More about this item

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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