Utility Then Is Not The Measure Of

But A Tax On Luxuries Would No Other Effect Than To Raise Their Price. It Would Fall Wholly On The Consumer, And Could Neither Increase Wages Nor Lower Profits.

After All The Fertile Land In The Immediate Neighbourhood Of The First Settlers Were Cultivated, If Capital And Population Increased, More Food Would Be Required, And It Could Only Be Procured From Land Not So Advantageously Situated.

Possessing Utility, Commodities Derive Their Exchangeable Value From Two Sources: From Their Scarcity, And From The Quantity Of Labour Required To Obtain Them.

Whenever, Then, The Usual And Ordinary Rate Of The Profits Of Agricultural Stock, And All The Outgoings Belonging To The Cultivation Of Land, Are Together Equal To The Value Of The Whole Produce, There Can Be No Rent.

As The Revenue Of The Farmer Is Realized In Raw Produce, Or In The Value Of Raw Produce, He Is Interested, As Well As The Landlord, In Its High Exchangeable Value, But A Low Price Of Produce May Be Compensated To Him By A Great Additional Quantity.