Editorial committee

March 2024 Forums Comments Winstanley, Marx and Henry George Editorial committee

#91891
ALB
Keymaster

Editorial committee reply:Even though it has a price uncultivated land has no value as it is not the product of labour. Improvements to land due to the exercise of labour will have value and will affect the price of land, but, economically speaking, these improvements are capital rather than land even if they are incorporated in it. It remains a fact that land, as such, is a pure product of nature and that those who own it are able to extract an income from the rest of society purely and simply because they own it and without having to cultivate or develop it. Of course they can do this, in which case their income will be part monopoly rent and part profit on capital. But it still remains the case that part of their income (or price of the land if they sell it) reflects the fact that they monopolise a part of the Earth's surface which provides them with an income for literally nothing.