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Keeping Land in Capital Theory: Ricardo, Faustmann, Wicksell, and George

Most economists today live in a two-factor world: There is just labor and capital. Land, so central to classical political economy, has been swallowed into capital and “disappeared.” This paper surveys some of the better historical treatments of land and capital, their interrelations, and how they support modern Georgists and Greens who want land to reappear.

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