...of Adam Smith (1723-1790), "The rent...is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement...take; but to what the farmer can afford to give." Now, who are the "radical" members of the United Tobacco Growers Association? They are the tenants...

...of Adam Smith (1723-1790), "The rent...is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement...the land, or to what he can afford to take; but to IX what the farmer can afford to give." Now, who are the "radical" members of the United Tobacco Growers...

...price,” a designation that is explained by the observation that “it is not at all proportioned to what the landlord may have laid out upon the improvement...take; but to what the farmer can afford to give.” When Smith discusses commodity prices, he includes the rent of land as an element of cost and therefore...

...several other purposes. The rent of land, therefore, is a monopoly price. It is not all proportioned to what the landlord may have laid out upon the improvement...to take; but to what the farmer can afford to give. PART I. Of the Produce of Land Which Always Affords Rent The rent of land not only varies with its...

...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...to take; but to what the farmer can afford to give. Such parts only of the produce of land can commonly be brought to market of which the ordinary price...