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The 'Rent Good' and Imperialism*
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Jan 30th 2023, Prabhat Patnaik
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Economic
theory makes much of "rent goods". A "rent
good" is one whose supply cannot be augmented at
will, simply through investing more on its production;
its supply is subject to constraints imposed by nature,
because of which there is a certain maximum rate of
long-run growth which is exogenously given and cannot
be altered at will.
*
This article was originally published in the Peoples
Democracy on January 29, 2023.
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