Abstract
In an agricultural economy, increasing inputs of labour with the amount of land given, methods of cultivation and inputs of all other resources remaining unchanged — the assumption which the economist must necessarily make for the purposes of preliminary analysis, but which he all too readily comes to treat as permanent — lead to reduced returns per unit of labour input — The Law of Diminishing Returns’ described by Victorian economists. In historical fact, however, the rigid retention of an unchanged system of cultivation is a rarity, and population increases, as we have seen, usually lead to changes both in methods of cultivation and in social and economic relationships, which are capable of greatly raising the return per unit of labour input.
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