Land: Difference between revisions
(Land is the surface area of the earth, but in economics also means all finite things. Contrast with Capital.) |
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=Discussion= | |||
According to [[User Owner]]ship theory, Patrick Anderson: | |||
Land is the surface area of the earth, but in economics also means all finite things. Contrast with [[Capital]]. | Land is the surface area of the earth, but in economics also means all finite things. Contrast with [[Capital]]. | ||
http://en.wikipedia.org/wiki/Land_%28economics%29 : ''Land in economics comprises all naturally occurring resources whose supply is inherently fixed (i.e., does not respond to changes in price), such as geographical locations (excluding infrastructural improvements and "natural capital", which can be changed by human actions), mineral deposits, and even geostationary orbit locations and portions of the electromagnetic spectrum. In classical economics it is considered one of three factors of production (along with capital and labor). Income derived from ownership or control of natural resources is often referred to as rent.'' | http://en.wikipedia.org/wiki/Land_%28economics%29 : ''Land in economics comprises all naturally occurring resources whose supply is inherently fixed (i.e., does not respond to changes in price), such as geographical locations (excluding infrastructural improvements and "natural capital", which can be changed by human actions), mineral deposits, and even geostationary orbit locations and portions of the electromagnetic spectrum. In classical economics it is considered one of three factors of production (along with capital and labor). Income derived from ownership or control of natural resources is often referred to as rent.'' | ||
Revision as of 06:27, 13 August 2009
Discussion
According to User Ownership theory, Patrick Anderson:
Land is the surface area of the earth, but in economics also means all finite things. Contrast with Capital.
http://en.wikipedia.org/wiki/Land_%28economics%29 : Land in economics comprises all naturally occurring resources whose supply is inherently fixed (i.e., does not respond to changes in price), such as geographical locations (excluding infrastructural improvements and "natural capital", which can be changed by human actions), mineral deposits, and even geostationary orbit locations and portions of the electromagnetic spectrum. In classical economics it is considered one of three factors of production (along with capital and labor). Income derived from ownership or control of natural resources is often referred to as rent.