On Marx's theory of agricultural rent∗

Abstract

This paper shows that Marx's theory of agricultural rent is not an adjunct to his theory of capital at the level of distribution but is inseparably developed from it. The forms of differential and absolute rent are shown to correspond to the formation of market value and price of production in the agricultural sector respectively, these in turn depending upon the barriers posed by landed property to intensive and extensive cultivation. In appendices, Marx' critique of Ricardo's theory of rent, differential rent on the worst land, a critique of other interpretations of Marx, and the ‘historical transformation problem’ are each considered briefly.