The rent of the land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give.
I’m not sure even Adam Smith of all people agrees with you
I’m not sure even Adam Smith of all people agrees with you
Good quote thanks. I suppose he refers to the specific plot of land being rented. Still, I’m just telling what I learned in my economics a-level.