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　　Iftheaboveresult——thesatisfactionofthedemandwithAexcluded——hadbeenaccomplished，perchance，bytheinvestmentofmorethandoublethecapitalinCorD，orinboth，thenthematterwouldassumeadifferentaspect。Forexample，ifthethirdinvestmentofcapitalweremadeinC:

　　TABLEIVaTypeofsoilAcresCapital&pound；Profit&pound；PriceofProd。&pound；OutputQrsSellingprice&pound；Proceeds&pound；RentRateofSurplusProfitInGrainQrsInMoney&pound；

　　B1516411/26000%

　　C171/211/29911/2131/2341/260%

　　D1516811/21246120%*

　　Total3171/231/22121311/27101/2Inthiscase，comparedwithTableIV，theoutputfromChasrisenfrom6to9qrs，thesurplus-productfrom2to3qrs，andthemoney-rentfrom&pound；3to&pound；41/2。ComparedwithTableII，wherethelatterwas&pound；12，andTableI，whereitwas&pound；6，themoney-renthas，ontheotherhand，decreased。Thetotalrentalingrain=7qrsandhasfallencomparedwithTableII12qrsandrisencomparedwithTableI6qrs；inmoney&pound；101/2ithasfallencomparedwithboth&pound；18and&pound；36。

　　Ifthethirdinvestmentofcapitalof&pound；21/2hadbeenemployedonsoilB，itwouldindeedhavealteredthequantityofproduction，butwouldnothaveaffectedtherent，since，accordingtoourassumption，thesuccessiveinvestmentsdonotproduceanydifferencesuponthesamesoilandsoilBdoesnotyieldanyrent。

　　Ifweassume，ontheotherhand，thatthethirdinvestmentofcapitaltakesplaceuponDinsteadofC，wehavethefollowing，TableIVb:

　　TypeofsoilAcresCapital&pound；Profit&pound；PriceofProd。&pound；OutputQrsSellingprice&pound；Proceeds&pound；RentRateofSurplusProfitInGrainQrInMoney&pound；

　　B1516411/26000%

　　C1516611/292360%

　　D171/211/291211/21869120%*

　　Total3171/231/2212233812Herethetotalproductis22qrs，morethandoublethatofTableI，althoughtheinvestedcapitalisonly&pound；171/2asagainst&pound；10，thatis，nottwicetheamount。Thetotalproductisalsolargerby2qrsthanthatofTableII，althoughtheinvestedcapitalinthelatterislarger——namely，&pound；20。

　　ComparedwithTableI，therentingrainfromsoilDhasincreasedfrom3[IntheGerman1894editionthisreads:2。朎d。]to6qrs，whereasthemoney-rent，&pound；9，hasremainedthesame。ComparedwithTableII，thegrain-rentfromDisthesame，namely，6qrs，butthemoney-renthasfallenfrom&pound；18to&pound；9。

　　Comparingthetotalrents，thegrain-rentfromTableIVb=8qrsislargerthanthatfromTableI=6qrsandthanthatfromTableIVa=7

　　qrs；butitissmallerthanthatfromTable11=12qrs。Themoney-rentfromTableIVb=&pound；12islargerthanthatfromTableIVa=&pound；101/2andsmallerthanthatfromTable1=&pound；18andthatfromTableII=

　　&pound；36。

　　Inorderthatthetotalrentalmay，undertheconditionsofTableIVbwiththeeliminationofrentfromB，beequaltothatofTableI，weneed&pound；6moreofsurplus-product，thatis，4qrsat&pound；11/2，whichisthenewpriceofproduction。Wethenhaveatotalrentalof&pound；18

　　againasinTableI。ThemagnitudeoftherequiredadditionalcapitalwillvaryaccordingtowhetherweinvestitinCorD，ordivideitbetweenthetwo。

　　OnC，&pound；5capitalyields2qrsofsurplus-product；consequently，&pound；10additionalcapitalyields4qrsofadditionalsurplus-product。

　　OnD，&pound；5additionalcapitalwouldsufficetoproduce4qrsofadditionalgrain-rentundertheconditionsassumedhere，namelythattheproductivityoftheadditionalinvestmentsofcapitalremainsthesame。Weshouldthenobtainthefollowingresults:

　　TABLEIVcTypeofsoilAcresCapital&pound；Proft&pound；PriceofProd。&pound；OutputQrsSellingprice&pound；Proceeds&pound；RentRateofSurplusProfitQrs&pound；

　　B1516411/26000%

　　C1153181811/2276960%

　　D171/211/291211/21869120%*

　　Total3271/251/23334511218TABLEIVdTypeofsoilAcresCapital&pound；Proft&pound；PriceofProd。&pound；OutputQrsSellingprice&pound；Proceeds&pound；RentRateofSurplusProfitQrs&pound；

　　B1516411/26000%

　　C1516611/292360%

　　D1121/221/2152011/2301015120%*

　　Total3221/241/22730451218Thetotalmoneyrentalwouldbeexactlyone-halfofwhatitwasinTableII，wheretheadditionalcapitalswereinvestedatconstantpricesofproduction。

　　ThemostimportantthingistocomparetheabovetableswithTableI。

　　Wefindthatwhilethepriceofproductionhasfallenbyone-half，i。e。，from60shillingsto30shillingsperquarter，thetotalmoneyrentalhasremainedthesame，namely=&pound；18，andthegrain-renthascorrespondinglydoubledfrom6to12qrs。UponBtherenthasdisappeared；uponCthemoney-renthasrisenbyone-halfinlVc，buthasfallenbyone-halfinIVd；uponD

　　inIVc，ithasremainedthesame，=&pound；9，andhasrisenfrom&pound；9

　　to&pound；15inIVd。Theproductionhasrisenfrom10to34qrsinIVe，andto30qrsinIVd；theprofitfrom&pound；2to&pound；51/2inIVcandto&pound；4inIVd。Thetotalinvestmentofcapitalhasrisenintheonecasefrom&pound；10to&pound；271/2，andintheotherfrom&pound；10to&pound；221/2；i。e。，inbothcasesithasmorethandoubled。Therateofrent，thatis，therentcalculatedontheinvestedcapital，isinalltablesfromIVtoIVdeverywherethesameforeachkindofsoil——whichwasalreadyimpliedintheassumptionthattherateofproductivityforthetwosuccessiveinvestmentsofcapitalremainsthesameforeachsoiltype。ButcomparedwithTableIthisratehasfallen，bothfortheaverageofallkindsofsoilandforeachoneofthemindividually。InTableIitwas=180%onanaverage，whereasinIVcit=18/271/2x100=

　　655/11%andinIVdit=18/221/2

　　x100=80%。Theaveragemoney-rentperacrehasrisen。Formerly，inTableI，itsaveragewas&pound；41/2peracrefromallfouracres，whereasinIVcandIVditis&pound；6peracreuponthethreeacres。

　　Itsaverageupontherent-bearinglandwasformerly&pound；6，whereasnowitis&pound；9peracre。Hencethemoney-valueoftherentperacrehasrisenandnowrepresentstwiceasmuchgrainasitdidformerly；butthe12qrsofgrain-rentarenowlessthanone-halfofthetotaloutputof34and30[IntheGerman1894editionthisreads:33and27。？Ed。]

　　qrsrespectively，whereasinTableIthe6qrsrepresent3/5ofthetotaloutputof10qrs。Consequently，althoughtherentasanaliquotpartofthetotaloutputhasfallen，andhasalsofallenwhencalculatedontheinvestedcapital，itsmoney-valuecalculatedperacrehasrisen，andstillmoreitsvalueasaproduct。IfwetakesoilDinTablelVd，wefindthatthepriceofproductioncorrespondingtothecapitaloutlayhere=&pound；15，ofwhich&pound；121/2isinvestedcapital。Themoney-rent=&pound；15。InTableI，forthesamesoilD，thepriceofproductionwas=&pound；3，theinvestedcapital=

　　&pound；21/2，andthemoney-rent=&pound；9；thatis，thelatterwasthreetimesthepriceofproductionandalmostfourtimesthecapital。InTablelVd，themoney-rentforD，&pound；15，isexactlyequaltothepriceofproductionandlargerthanthecapitalbyonly1/5。Nevertheless，themoney-rentperacreis2/3larger，namely，&pound；15insteadof&pound；9。InTableI，thegrain-rentof3qrs=3/4ofthetotalproductof4qrs；inTableIVditis10qrs，orone-halfthetotalproduct20qrsperacreofD。

　　Thisshowsthatthemoney-valueandgrainvalueoftherentperacremayrise，althoughitconstitutesasmalleraliquotpartofthetotalyieldandhasfalleninproportiontotheinvestedcapital。

　　ThevalueofthetotalproductinTable1=&pound；30；therent=&pound；18，ormorethanone-halfofit。ThevalueofthetotalproductinIVd=&pound；45，ofwhichtherent=&pound；18，orlessthanone-half。

　　Now，thereasonwhyinspiteofthefallinpriceby&pound；11/2perquarter，i。e。，afallof50%，andinspiteofthereductionincompetingsoilfrom4to3acres，thetotalmoney-rentremainsthesameandthetotalgrain-rentisdoubled，while，calculatedperacre，boththegrain-rentandmoney-rentrise，isthatmorequartersofsurplus-productareproduced。Thepriceofgrainfallsby50%，andthesurplus-productincreasesby100%。Butinordertoobtainthisresult，thetotalproductionundertheconditionsassumedbyusmustbetrebled，andtheinvestmentofcapitalinthesuperiorsoilsmustbemorethandoubled。Atwhatratethelattermustincreasedependsinthefirstplaceuponthedistributionofadditionalcapitalinvestmentsamongthebetterandbestsoils，alwaysassumingthattheproductivityofthecapitalinvestedineachsoiltypeincreasesproportionatelytoitsmagnitude。

　　Ifthefallinpriceofproductionweresmaller，lessadditionalcapitalwouldberequiredtoproducethesamemoney-rent。IfthesupplyrequiredtothrowsoilAoutofcultivation-andthisdependsnotmerelyupontheoutputperacreofA，butalsoupontheshareheldbyAintheentirecultivatedarea——thus，ifthesupplyrequiredforthispurposewerelarger，andtherebyalsotheamountofadditionalinvestedcapitalrequiredinsoilsbetterthanA，then，othercircumstancesremainingthesame，themoneyandgrainrentswouldhaveincreasedstillmore，althoughsoilBwouldhaveceasedyieldingmoneyandgrainrents。IfthecapitaleliminatedfromAhadbeen=&pound；5，thetablestobecomparedforthiscasewouldbetablesIIandIVd。Thetotalproductwouldhaveincreasedfrom20to30

　　qrs。Themoney-rentwouldbeonlyhalfaslarge，or&pound；48insteadof&pound；36；thegrain-rentwouldbethesame，namely=12qrs。

　　Ifatotalproductof44qrs=&pound；66couldbeproduceduponDwithacapital=&pound；271/2——correspondingtotheoldrateforD，4qrsper&pound；21/2capital——thenthetotalrentalwouldoncemorereachthelevelattainedinTableII，andthetablewouldappearasfollows:

　　TypeofSoilCapital&pound；OutputQrsGrain-RentQrsMoney-Rent&pound；

　　B5400

　　C5623

　　D271/2442233

　　Total371/2542436Thetotalproductionwouldbe54qrsasagainst20qrsinTableII，andthemoney-rentwouldbethesame，=&pound；36。Butthetotalcapitalwouldbe&pound；371/2，whereasinTableIIitwas=20。

　　Thetotalinvestedcapitalwouldbedoublealmost，whileproductionwouldbenearlytreble；thegrain-rentwouldbedoubleandthemoney-rentwouldremainthesame。Hence，ifthepricefalls-whileproductivityremainsthesame——asaresultoftheinvestmentofadditionalmoney-capitalinthebettersoilswhichyieldrent，thatis，allsoilsbetterthanA，thenthetotalcapitalhasatendencynottoincreaseatthesamerateasproductionandgrain-rent；thustheincreaseingrain-rentmaycompensateforthelossinmoney-rentduetothefallingprice。ThesamelawalsomanifestsitselfinthattheinvestedcapitalmustbeproportionatelylargerasmoreisinvestedinCthanD，i。e。，insoilsyieldinglessrentratherthaninsoilsyieldingmorerent。Thepointissimplythis:inorderthatthemoney-rentmayremainthesameorrise，adefiniteadditionalquantityofsurplus-productmustbeproduced，andthegreaterthefertilityofthesoilsyieldingsurplus-product，thelesscapitalthisrequires。IfthedifferencebetweenBandC，andCandD，werestillgreater，stilllessadditionalcapitalwouldberequired。Thespecificproportionisdeterminedby1theratiooffallinprice，inotherwords，bythedifferencebetweensoilB，whichdoesnotyieldrentnow，andsoilA，whichformerlywasthesoilnotyieldingrent；2theratioofthedifferencesbetweenthesoilsbetterthanBupwards；3theamountofnewlyinvestedadditionalcapital，and4itsdistributionamongthesoilsofvaryingquality。

　　Infact，weseethatthislawmerelyexpresseswhatwasalreadyascertainedinthefirstcase:Whenthepriceofproductionisgiven，nomatterwhatitsmagnitude，therentmayincreaseasaresultofadditionalcapitalinvestment。ForowingtotheeliminationofA，wenowhaveanewdifferentialrentIwithBastheworstSoiland&pound；11/2perquarterasthenewpriceofproduction。ThisappliestoTableIVaswellastoTableII。Itisthesamelaw，exceptthatourpointofdepartureissoilBinsteadofA，andourpriceofproductionistakenas&pound；11/2insteadof&pound；3。

　　Theimportantthinghereisthis:TotheextentthatsomuchandsomuchadditionalcapitalwasnecessaryinordertowithdrawthecapitalfromsoilAandcreatethesupplywithoutit，wefindthatthismaybeaccompaniedbyanunaltered，rising，orfallingrentperacre，ifnotfromallplotsoflandthenatleastfromsome，andsofarastheaverageofthecultivatedplotsisconcerned。Wehaveseenthatgrain-rentandmoney-rentdonotmaintainauniformrelationtooneanother。Itismerelyduetotraditionthatgrain-rentisstillofanyimportanceineconomics。Onemightdemonstrateequallywellthat，e。g。，amanufacturercanbuymuchmoreofhisyarnwithhisprofitof&pound；5thanhecouldformerlywithaprofitof&pound；10。Itshowsatanyrate，thatmessieurslandlords，whentheyaresimultaneouslyownersorshareholdersinmanufacturingestablishments，sugar-refineries，distilleries，etc。，mayintheircapacityasproducersoftheirownrawmaterialsstillmakeaconsiderableprofitwhenthemoney-rentisfalling。[1]

　　II。Decreasingrateofproductivityoftheadditionalcapital。

　　Thisintroducesnothingnewintotheproblem，insofarasthepriceofproductionmayalsofallinthiscase，asinthecasejustconsidered，onlywhenadditionalinvestmentsofcapitalinbettersoilsthanArendertheoutputfromAsuperfluousandthecapitalisthereforewithdrawnfromA，orAisemployedfortheproductionofotherproducts。Thiscasehasbeenexhaustivelydiscussedabove。Itwasshownthattherentingrainandmoneyperacremayincrease，decrease，orremainunchanged。

　　Forconvenienceinmakingcomparisonswereproducethefollowingtable:

　　TABLEIV

　　TypeofSoilAcresCapital&pound；Profit&pound；PriceofProduction。perQrOutputQrsGrain-RentQrsMoney-RentQrsRateofSurplusProfitA121/21/231000

　　B121/21/211/2213120%

　　C121/21/21326240%

　　D121/21/23/4439360%

　　Total41010618180%averageNowletusassumethataquantityof16qrssuppliedbyB，C，andDatadecreasingrateofproductivitysufficestoexcludeAfromcultivation。

　　Insuchcase，TableIIIistransformedintothefollowing:

　　TABLEV

　　TypeofSoilAcresInvestmentofCapital&pound；Profit&pound；OutputQrsSellingprice&pound；Proceeds&pound；Grain-RentQrsMoney-Rent&pound；RateofSurplusProfitB121/221/21211/2=31/215/76000

　　C121/221/2132=515/784/711/224/7513/7%

　　D121/221/21431/2=71/215/7126/7466/71371/7%**

　　Total3***1516273/751/293/7942/7%average****[*IntheGerman1894editionthisreads512/5——Ed。]

　　[**Ibid。1371/5——Ed。]

　　[***Ibid。:4——Ed。]

　　[****Here，aswellasintablesVI，VII，VIII，IXandXthelandwhichyieldsnorentisleftoutofconsideration——Ed。]

　　Here，atadecreasingrateof；productivityoftheadditionalcapital，andavaryingdecreaseforthevarioussoiltypes，theregulatingpriceofproductionhasfallenfrom&pound；3to&pound；15/7。

　　Theinvestmentofcapitalhasrisenbyone-half-from&pound；10to&pound；15。

　　Themoney-renthasfallenbyalmostone-half-from&pound；18to&pound；93/7，butthegrain-renthasfallenbyonly1/12——from6qrsto51/2qrs。Thetotaloutputhasrisenfrom10to16，orby60%。Thegrain-rentconstitutesalittlemorethanone-thirdofthetotalproduct。Theadvancedcapitalistothemoney-rentas15:93/7，whereasformerlythisratiowas10

　　:18。

　　III。Risingrateofproductivityoftheadditionalcapital。

　　ThisdiffersfromVariantIatthebeginningofthischapter，wherethepriceofproductionfallswhiletherateofproductivityremainsthesame，merelyinthatwhenagivenamountofadditionalproduceisrequiredtoexcludesoilAthisoccursheremorequickly。

　　Theeffectmayvaryinaccordancewiththedistributionofinvestmentsamongthevarioussoilsforafalling，aswellasanincreasing，productivityoftheadditionalcapitalinvestments。Insofarasthisvaryingeffectbalancesoutthedifferences，oraccentuatesthem，thedifferentialrentofthebettersoils，andtherebythetotalrentaltoo，willfallorrise，aswasalreadythecaseindifferentialrentI。Inotherrespects，everythingdependsuponthemagnitudeofthelandareaandcapitalexcludedtogetherwithA，andupontherelativemagnitudeofadvancedcapitalrequiredwitharisingproductivityinordertoproducetheadditionaloutputtomeetthedemand。

　　Theonlypointworthwhileanalysinghere，andwhichreallytakesusbacktotheinvestigationofthewayinwhichthisdifferentialprofitistransformedintodifferentialrent，isthefollowing:

　　Inthefirstcase，wherethepriceofproductionremainsthesametheadditionalcapitalwhichmaybeinvestedinsoilAdoesnotaffectthedifferentialrentassuch，sincesoilA，asbefore，doesnotyieldanyrent，thepriceofitsproduceremainsthesame，anditcontinuestoregulatethemarket。

　　Inthesecondcase，VariantI，wherethepriceofproductionfallswhiletherateofproductivityremainsthesame，soilAwillnecessarilybeexcluded，andstillmoresoinVariantIIfallingpriceofproductionwithfallingrateofproductivity，sinceotherwisetheadditionalcapitalinvestedinsoilAwouldhavehadtoraisethepriceofproduction。Buthere，inVariantIIIofthesecondcase，wherethepriceofproductionfallsbecausetheproductivityoftheadditionalcapitalrises，thisadditionalcapitalmayundercertaincircumstancesbeinvestedinsoilAaswellasinthebettersoils。

　　LetusassumethatwheninvestedinsoilAanadditionalcapitalof&pound；21/2produces11/5qrsinsteadof1qr。

　　TABLEVI

　　TypeofSoilAcresCapital&pound；Profit&pound；PriceofProduction&pound；OutputQrsSellingprice&pound；Proceeds&pound；RentRateofSurplusProfitQrs&pound；

　　A121/221/216111/5=21/528/116000%

　　B121/221/216222/5=42/528/111221/56120%

　　C121/221/216333/5=63/528/111842/512240%

　　D121/221/216444/5=84/528/112463/518360%

　　4204242260131/536240%AsidefrombeingcomparedwiththebasicTableI，thistableshouldbecomparedwithTableII，whereatwo-foldinvestmentofcapitalisassociatedwithaconstantproductivity，proportionaltotheinvestmentofcapital。

　　Inaccordancewithourassumption，theregulatingpriceofproductionfalls。Ifitweretoremainconstant，=&pound；3，thentheworstsoilA，whichusedtoyieldnorentwithaninvestmentofonly&pound；21/2，wouldnowyieldrentwithoutworsesoilbeingbroughtundercultivation。

　　Thiswouldhaveoccurredduetoanincreaseintheproductivityofthissoil，butonlyforapartofthecapital，notfortheoriginalcapitalinvested。Thefirst&pound；3ofproductionpriceyield1qr；thesecondyield11/5qrs；buttheentireoutputof21/5qrsisnowsoldatitsaverageprice。Sincetherateofproductivityincreaseswiththeadditionalinvestmentofcapital，thispresupposesanimprovement。

　　Thelattermayconsistofageneralincreaseincapitalinvestedperacremorefertiliser，moremechanisedlabour，etc。，oritmaybethatonlythroughthisadditionalcapitalitisatallpossibletobringaboutaqualitativelydifferentmoreproductiveinvestmentofthecapital。Inbothcases，theinvestmentof&pound；5ofcapitalperacreyieldsanoutputof21/5qrs，whereastheinvestmentofone-halfofthiscapital，i。e。，&pound；21/5，yieldsonly1qrofproduce。TheproducefromsoilAcould，regardlessoftransientmarketconditions，onlycontinuetobesoldatahigherpriceofproductioninsteadofatthenewaverageprice，aslongasaconsiderableareaoftypeAsoilcontinuedtobecultivatedwithacapitalofonly&pound；21/2peracre。Butassoonasthenewrelationof&pound；5ofcapitalperacre，andtherebytheimprovedmanagement，becomesuniversal，theregulatingpriceofproductionwouldhavetofallto&pound；28/11。Thedifferencebetweenthetwoportionsofcapitalwoulddisappear，andthen，infact，thecultivationofanacreofsoilAwithacapitalofonly&pound；21/2wouldbeabnormal，i。e。，wouldnotcorrespondtothenewconditionsofproduction。Itwouldthennolongerbeadifferencebetweentheyieldsfromdifferentportionsofcapitalinvestedinthesameacre，butbetweenasufficientandaninsufficienttotalinvestmentofcapitalperacre。Thisshows，firstofall，thatinsufficientcapitalinthehandsofalargenumberoftenantfarmersitmustbealargenumber，forasmallnumberwouldsimplybecompelledtosellbelowtheirpriceofproductionproducesthesameeffectasadifferentiationofthesoilsthemselvesinadescendingline。Theinferiorcultivationofinferiorsoilincreasestherentfromsuperiorsoils；itmayevenleadtorentbeingyieldedfrombettercultivatedsoilofequallypoorquality，whichwouldotherwisenotbeyielded。Itshows，secondly，thatdifferentialrent，insofarasitarisesfromsuccessiveinvestmentsofcapitalinthesametotalarea，resolvesitselfinrealityintoanaverage，inwhichtheeffectsofthevariousinvestmentsofcapitalarenolongerrecognisableanddistinguishable，andthereforedonotresultinrentbeingyieldedfromtheworstsoil，butrather:1maketheaveragepriceofthetotalyieldfor，say，anacreofA，thenewregulatingpriceand2appearasalterationinthetotalquantityofcapitalperacrerequiredunderthenewconditionsfortheadequatecultivationofthesoil；andinwhichtheindividualsuccessiveinvestmentsofcapital，aswellastheirrespectiveeffects，willappearindistinguishablyblendedtogether。Itisexactlythesamewiththeindividualdifferentialrentsfromthesuperiorsoils。

　　Ineachcase，theyaredeterminedbythedifferencebetweentheaverageoutputfromthesoilinquestionandtheoutputfromtheworstsoilattheincreasedcapitalinvestment——whichhasnowbecomenormal。

　　Nosoilyieldsanyproducewithoutaninvestmentofcapital。Thisisthecaseevenforsimpledifferentialrent，differentialrentI；whenitissaidthatoneacreofsoilA，whichregulatesthepriceofproduction，yieldssomuchandsomuchproduceatsuchandsuchaprice，andthatsuperiorsoilsB，CandDyieldsomuchdifferentialproduce，andthereforesomuchandsomuchmoney-rentattheregulatingpriceofproduction，itisalwaysassumedthatadefiniteamountofcapitalisinvestedwhich，undertheprevailingconditionsofproduction，isconsiderednormal。Inthesameway，acertainminimumcapitalisrequiredforeveryindividualbranchofindustryinorderthatthecommoditiesmaybeproducedattheirpriceofproduction。

　　Ifthisminimumisalteredasaresultofsuccessiveinvestmentsofcapitalassociatedwithimprovementsonthesamesoil，itoccursgradually。

　　Solongasacertainnumberofacres，say，ofA，donotreceivethisadditionalworkingcapital，arentisproduceduponthebettercultivatedacresofAduetotheunalteredpriceofproduction，andtherentfromallsuperiorsoils，B，CandD，isincreased。Butassoonasthenewmethodofcultivationhasbecomegeneralenoughtobethenormalone，thepriceofproductionfalls；therentfromthesuperiorplotsdeclinesagain，andthatportionofsoilAthatdoesnotpossesstheworkingcapital，whichhasnowbecometheaverage，mustsellitsproducebelowitsindividualpriceofproduction，i。e。，belowtheaverageprofit。

　　Inthecaseofafallingpriceofproduction，thisalsooccursevenwithdecreasingproductivityoftheadditionalcapital——assoonastherequiredtotalproductissupplied，inconsequenceofincreasedinvestmentofcapital，bythesuperiorsoils，andthus，e。g。，theworkingcapitaliswithdrawnfromA，i。e。，Anolongercompetesintheproductionofthisparticularproduct，e。g。，wheat。Thequantityofcapitalwhichisnowrequired，onanaverage，tobeinvestedinthebettersoilB，thenewregulator，nowbecomesnormal:andwhenonespeaksofthevaryingfertilityofplotsofland，itisassumedthatthisnewnormalquantityofcapitalperacreisemployed。

　　Ontheotherhand，itisevidentthatthisaverageinvestmentofcapital，say，inEngland，of&pound；8peracrepriorto1848，and&pound；12subsequenttothatyear，willconstitutethestandardinconcludingleases。Forthefarmerexpendingmorethanthis，thesurplus-profitisnottransformedintorentforthedurationofthecontract。Whetherthistakesplaceafterexpirationofthecontractornotwilldependuponthecompetitionamongthefarmerswhoareinapositiontomakethesameextracapitaladvance。

　　Wearenotreferringheretosuchpermanentsoilimprovementsthatcontinuetoprovidetheincreasedoutputwiththesameorevenwithadecreasingoutlayofcapital。Suchimprovements，althoughproductsofcapital，havethesameeffectasnaturaldifferencesinthequalityoftheland。

　　Wesee，then，thatafactorcomesintoconsiderationinthecaseofdifferentialrentIIwhichdoesnotappearinthecaseofdifferentialrentIassuch，sincethelattercancontinuetoexistindependentlyofanychangeinthenormalinvestmentofcapitalperacre。Itis，ontheonehand，theblurringofresultsfromvariousinvestments，ofcapitalinregulatingsoilA，whoseoutputflowsimplyappearsasanormalaverageoutputperacre。Itis，ontheotherhand，thechangeinthenormalminimum，orintheaveragemagnitudeofinvestedcapitalperacre，sothatthischangeappearsasapropertyofthesoil。Itis，finally，thedifferenceinthemanneroftransformingsurplus-profitintotheformofrent。

　　TableVIshows，furthermore，comparedwithtablesIandII，thatthegrain-renthasmorethandoubledinrelationtoI，andhasincreasedby11/5qrsinrelationtoII；whilethemoney-renthasdoubledinrelationtoI，buthasnotchangedinrelationtoII。Itwouldhaveincreasedconsiderablyifotherconditionsremainingthesame

　　moreoftheadditionalcapitalhadbeenallocatedtothesuperiorsoils，orifontheotherbandtheeffectoftheadditionalcapitalonAhadbeenlessappreciable，andthustheregulatingaveragepriceperquarterfromAhadbeenhigher。

　　Iftheincreaseinproductivenessbymeansofadditionalcapitalshouldproducevaryingresultsforthevarioussoils，thiswouldproduceachangeintheirdifferentialrents。

　　Inanycase，ithasbeenshownthattherentperacre，forinstancewithadoubledinvestmentofcapital，maynotonlydouble，butmaymorethandouble——whilethepriceofproductionfallsinconsequenceofanincreasedrateofproductivityoftheadditionalcapitalinvested，i。e。，whenthisproductivitygrowsatahigherratethantheadvancedcapital。

　　ButitmayalsofallifthepriceofproductionshouldfallmuchlowerasaresultofamorerapidincreaseinproductivenessofsoilA。

　　Letusassumethattheadditionalinvestmentsofcapital，forinstanceinBandC，donotincreasetheproductivityatthesamerateastheydoforA，sothattheproportionaldifferencesdecreaseforBandCandtheincreaseinoutputdoesnotmakeupforthefallinprice。Then，comparedwithTableII，the[money]rentfromDwouldremainunchanged，andthatfromBandCwouldfall。

　　TABLEVIaTypeofSoilAcresCapital&pound；Profit&pound；OutputPerAcreQrsSellingpriceProceeds&pound；Grain-RentQrsMoney-RentQrsA121/221/2113=411/2600

　　B121/221/21221/2=41/211/263/41/23/4

　　C121/221/2135=811/21246

　　D121/221/21412=1611/2241218

　　Total420321/2161/2243/4Finally，themoney-rentwouldriseifmoreadditionalcapitalwereinvestedinthesuperiorsoilswiththesameproportionalincreaseinproductivenessthaninA，oriftheadditionalinvestmentsofcapitalinthesuperiorsoilswereeffectiveatanincreasingrateofproductivity。Inbothcasesthedifferenceswouldincrease。

　　Themoney-rentfallswhentheimprovementduetoadditionalinvestmentofcapitalreducesthedifferencescompletely，orinpart，andaffectsAmorethanBandC。Thesmallertheincreaseinproductivityofthesuperiorsoils，themoreitfalls。Itdependsupontheextentofinequalityproduced，whetherthegrain-rentshallrise，fallorremainstationary。

　　Themoney-rentrises，andsimilarlythegrain-rent，eitherwhen——theproportionaldifferenceinadditionalfertilityofthevarioussoilsremainingunaltered——morecapitalisinvestedintherent-bearingsoilsthaninrentlesssoilA，andmoreinsoilsyieldinghigherrentthaninthoseyieldinglowerrents；orwhenthefertility——theadditionalcapitalremainingequal——increasesmoreonthebetterandbestsoilsthanonA，i。e。，themoneyandgrainrentsriseinproportiontothisincreaseinfertilityofthebettersoilsabovethatofthepoorerones。

　　Butunderallcircumstances，thereisarelativeriseinrentwhenincreasedproductivepoweristheresultofanadditionofcapital，andnotmerelytheresultofincreasedfertilitywithunalteredinvestmentofcapital。

　　Thisistheabsolutepointofview，whichshowsthathere，asinallformercases，therentandincreasedrentperacreasinthecaseofdifferentialrentIontheentirecultivatedarea——themagnitudeoftheaveragerental

　　aretheresultofanincreasedinvestmentofCapitalinland，nomatterwhetherthiscapitalfunctionswithaconstantrateofproductivityatconstantordecreasingpricesorwithadecreasingrateofproductivityatconstantorfallingprices，orwithanincreasingrateofproductivityatfallingprices。Forourassumption:constantpriceswithaconstant，falling，orrisingrateofproductivityoftheadditionalcapital，andfallingpriceswithaconstant，falling，orrisingrateofproductivity，resolvesitselfinto:aconstantrateofproductivityoftheadditionalcapitalatconstantorfallingprices，afallingrateofproductivityatconstantorfallingprices，andarisingrateofproductivityatconstantandfallingprices。Althoughtherentmayremainstationary，ormayfall，inallthesecases，itwouldfallmoreiftheadditionalinvestmentofcapital，othercircumstancesremainingthesame，werenotaprerequisitefortheincreasedproductiveness。Theadditionalcapital，then，isalwaysthecausefortherelativelyhighrent，althoughabsolutelyitmayhavedecreased。

　　Footnotes[1]TheabovetablesIVatoIVdhadtoberecalculatedduetoanerrorincomputationwhichranthroughallofthem。Whilethisdidnotaffectthetheoreticalconclusionsdrawnfromthesetables，itintroduced，inpart，quitemonstrousnumericalvaluesforproductionperacre。Eventhesearenotobjectionableinprinciple。Forallreliefandtopographicalmapsitiscustomarytochooseamuchlargerscalefortheverticalthanforthehorizontal。Nevertheless，shouldanyonefeelthathisagrarianfeelingshavebeeninjuredthereby，heisatlibertytomultiplythenumberofacresbyanynumericalvaluethatwillsatisfyhim。Onemightalsochoose10，12，14，16bushels8

　　bushels=1quarterperacreinTable1insteadof1，2，3，4quarters，andthederivednumericalvaluesintheothertableswouldremainwithinthelimitsofprobability；itwillbefoundthattheresult，i。e。，theratioofrentincreasetocapitalincrease，isexactlythesame。Thishasbeendoneinthetablesincludedbytheeditorinthenextchapter。？F。

　　E。

　　Capital，Vol。3，Chapter47KarlMarxCAPITALVol。III

　　THEPROCESSOF

　　CAPITALISTPRODUCTIONASAWHOLEPartVI

　　TRANSFORMATIONOFSURPLUS-PROFIT

　　INTOGROUNDRENTCHAPTER47

　　GenesisofCapitalistGround-RentI。INTRODUCTORYREMARKS

　　Wemustclarifyinourmindswhereinliestherealdifficultyinanalysingground-rentfromtheviewpointofmoderneconomics，asthetheoreticalexpressionofthecapitalistmodeofproduction。Evenmanyofthemoremodernwritershavenotasyetgraspedthis，asevidencedbyeachrenewedattemptto”newly”explainground-rent。Thenoveltyalmostinvariablyconsistsinarelapseintolongout-of-dateviews。Thedifficultyisnottoexplainthesurplus-productproducedbyagriculturalcapitalanditscorrespondingsurplus-valueingeneral。Thisquestionissolvedintheanalysisofthesurplus-valueproducedbyallproductivecapital，inwhateversphereitmaybeinvested。Thedifficultyconsistsratherinshowingthesourceoftheexcessofsurplus-valuepaidthelandlordbycapitalinvestedinlandintheformofrent，afterequalisationofthesurplus-valuetotheaverageprofitamongthevariouscapitals，afterthevariouscapitalshavesharedinthetotalsurplus-valueproducedbythesocialcapitalinallspheresofproductioninproportiontotheirrelativesize；inotherwords，thesourcesubsequenttothisequalisationandtheapparentlyalreadycompleteddistributionofallsurplus-valuewhich，ingeneral，istobedistributed。

　　Quiteapartfromthepracticalmotives，whichproddedmoderneconomistsasspokesmenofindustrialcapitalagainstlandedpropertytoinvestigatethisquestion——motiveswhichweshallpointoutmoreclearlyinthechapteronhistoryofground-rent——thequestionwasofparamountinteresttothemastheorists。Toadmitthattheappearanceofrentforcapitalinvestedinagricultureisduetosomeparticulareffectproducedbythesphereofinvestmentitself，duetosingularqualitiesoftheearth抯crustitself，istantamounttogivinguptheconceptionofvalueassuch，thustantamounttoabandoningallattemptsatascientificunderstandingofthisfield。

　　Eventhesimpleobservationthatrentispaidoutofthepriceofagriculturalproduce——whichtakesplaceevenwhererentispaidinkindifthefarmeristorecoverhispriceofproduction——showedtheabsurdityofattemptingtoexplaintheexcessofthispriceovertheordinarypriceofproduction；

　　inotherwords，toexplaintherelativedearnessofagriculturalproductsonthebasisoftheexcessofnaturalproductivityofagriculturalproductionovertheproductivityofotherlinesofproduction。Forthereverseistrue:themoreproductivelabouris，thecheaperiseveryaliquotpartofitsproduct，becausesomuchgreateristhemassofuse-valuesincorporatingthesamequantityoflabour，i。e。，thesamevalue。

　　Thewholedifficultyinanalysingrent，therefore，consistsinexplainingtheexcessofagriculturalprofitovertheaverageprofit，notthesurplus-value，buttheexcessofsurplus-valuecharacteristicofthissphereofproduction；

　　inotherwords，notthe”netproduct”，buttheexcessofthisnetproductoverthenetproductofotherbranchesofindustry。Theaverageprofititselfisaproductformedunderverydefinitehistoricalproductionrelationsbythemovementofsocialprocesses，aproductwhich，aswehaveseen，requiresverycomplexadjustment。Tobeabletospeakatallofasurplusovertheaverageprofit，thisaverageprofititselfmustalreadybeestablishedasastandardandasaregulatorofproductioningeneralasisthecaseundercapitalistproduction。Forthisreasontherecanbenotalkofrentinthemodernsense，arentconsistingofasurplusovertheaverageprofit，i。e。，overandabovetheproportionalshareofeachindividualcapitalinthesurplus-valueproducedbythetotalsocialcapital，insocialformationswhereitisnotcapitalwhichperformsthefunctionofenforcingallsurplus-labourandappropriatingdirectlyallsurplus-value。Andwherethereforecapitalhasnotyetcompletely，oronlysporadically，broughtsociallabourunderitscontrol。Itreflectsna&iuml；vet&eacute；，e。g。，ofapersonlikePassyseebelow，whenhespeaksofrentinprimitivesocietyasasurplusoverprofit[Passy，Rentedusol。In:Dictionnairedel？eacute；conomiepolitique，TomeII。Paris，1854，p。511——Ed。]——

　　ahistoricallydefinedsocialformofsurplus-value，butwhich，accordingtoPassy，mightalmostaswellexistwithoutanysociety。

　　Fortheoldereconomists，whoingeneralmerelybeginanalysingthecapitalistmodeofproduction，stillundevelopedintheirday，theanalysisofrentofferseithernodifficultyatall，oronlyadifficultyofacompletelydifferentkind。Petty，Cantillon，andingeneralthosewriterswhoareclosertofeudaltimes，assumeground-renttobethenormalformofsurplus-valueingeneral，[[Petty]ATreatiseonTaxesandContributions，London，1667，pp。23-24；[RichardCantillon]Essaisurlanatureducommerceeng&eacute；neral，Amsterdam，1756——Ed。]whereasprofittothemisstillamorphouslycombinedwithwages，oratbestappearstobeaportionofsurplus-valueextortedbythecapitalistfromthelandlord。

　　Thesewritersthustakeastheirpointofdepartureasituationwhere，inthefirstplace，theagriculturalpopulationstillconstitutestheoverwhelmingmajorityofthenation，and，secondly，thelandlordstillappearsasthepersonappropriatingatfirsthandthesurplus-labourofthedirectproducersbyvirtueofhismonopolyoflandedproperty，wherelandedproperty，therefore；

　　stillappearsasthemainconditionofproduction。Forthesewritersthequestioncouldnotyetbeposed，which，inversely，seekstoinvestigatefromtheviewpointofcapitalistproductionhowlandedpropertymanagestowrestbackagainfromcapitalaportionofthesurplus-valueproducedbyitthatis，filchedbyitfromthedirectproducersandalreadyappropriateddirectly。

　　Thephysiocratsaretroubledbydifficultiesofanothernature。

　　Astheactuallyfirstsystematicspokesmenofcapital，theyattempttoanalysethenatureofsurplus-valueingeneral。Forthem，thisanalysiscoincideswiththeanalysisofrent，theonlyformofsurplus-valuewhichtheyrecognise。Therefore，theyconsiderrent-yielding，oragricultural，capitaltobetheonlycapitalproducingsurplus-value，andtheagriculturallaboursetinmotionbyit，theonlylabourproducingsurplus-value，whichfromacapitalistviewpointisquiteproperlyconsideredtheonlyproductivelabour。Theyarequiterightinconsideringthecreationofsurplus-valueasdecisive。ApartfromothermeritstobesetforthinBookIV，theydeservecreditprimarilyforgoingbackfrommerchant抯capital，whichfunctionssolelyinthesphereofcirculation，toproductivecapital，inoppositiontothemercantilesystem，which，withitscruderealism，constitutestheactualvulgareconomyofthatperiod，pushingintothebackgroundinfavourofitsownpracticalintereststhebeginningsofscientificanalysismadebyPettyandhissuccessors。Inthiscritiqueofthemercantilesystem，incidentally，onlyitsconceptionsofcapitalandsurplus-valuearedealtwith。Ithasalreadybeenindicatedpreviouslythatthemonetarysystemcorrectlyproclaimsproductionfortheworld-marketandthetransformationoftheoutputintocommodities，andthusintomoney，astheprerequisiteandconditionofcapitalistproduction。Inthissystem抯furtherdevelopmentintothemercantilesystem，itisnolongerthetransformationofcommodity-valueintomoney，butthecreationofsurplus-valuewhichisdecisive——butfromthemeaninglessviewpointofthecirculationsphereand，atthesametime，insuchmannerthatthissurplusvalueisrepresentedassurplusmoney，asthebalanceoftradesurplus。Atthesametime，however，thecharacteristicfeatureoftheinterestedmerchantsandmanufacturersofthatperiod，whichisinkeepingwiththestageofcapitalistdevelopmentrepresentedbythem，isthatthetransformationoffeudalagriculturalsocietiesintoindustrialonesandthecorrespondingindustrialstruggleofnationsontheworld-marketdependsonanaccelerateddevelopmentofcapital，whichisnottobearrivedatalongtheso-callednaturalpath，butratherbymeansofcoercivemeasures。Itmakesatremendousdifferencewhethernationalcapitalisgraduallyandslowlytransformedintoindustrialcapital，orwhetherthisdevelopmentisacceleratedbymeansofataxwhichtheyimposethroughprotectivedutiesmainlyuponlandowners，middleandsmallpeasants，andhandicraftsmen，bywayofacceleratedexpropriationoftheindependentdirectproducers，andthroughtheviolentlyacceleratedaccumulationandconcentrationofcapital，inshortbymeansoftheacceleratedestablishmentofconditionsofcapitalistproduction。Itsimultaneouslymakesanenormousdifferenceinthecapitalistandindustrialexploitationofthenaturalnationalproductivepower。Hencethenationalcharacterofthemercantilesystemisnotmerelyaphraseonthelipsofitsspokesmen。

　　Underthepretextofconcernsolelyforthewealthofthenationandtheresourcesofthestate，they，infact，pronouncetheinterestsofthecapitalistclassandtheamassingofrichesingeneraltobetheultimateaimofthestate，andthusproclaimbourgeoissocietyinplaceoftheolddivinestate。

　　Butatthesametimetheyareconsciouslyawarethatthedevelopmentoftheinterestsofcapitalandofthecapitalistclass，ofcapitalistproduction，formsthefoundationofnationalpowerandnationalascendancyinmodernsociety。

　　Thephysiocrats，furthermore，arecorrectinstatingthatinfactallproductionofsurplus-value，andthusalldevelopmentofcapital，hasforitsnaturalbasistheproductivenessofagriculturallabour。Ifmanwerenotcapableofproducinginoneworking-daymoremeansofsubsistence，whichsignifiesinthestrictestsensemoreagriculturalproductsthaneverylabourerneedsforhisownreproduction，ifthedailyexpenditureofhisentirelabourpowersufficedmerelytoproducethemeansofsubsistenceindispensableforhisownindividualrequirements，thenonecouldnotspeakatalleitherofsurplus-productorsurplus-value。Anagriculturallabourproductivityexceedingtheindividualrequirementsofthelaboureristhebasisofallsocieties，andisaboveallthebasisofcapitalistproduction，whichdisengagesaconstantlyincreasingportionofsocietyfromtheproductionofbasicfoodstuffsandtransformstheminto”freeheads，”asSteuart[Steuart，AnInquiryIntothePrinciplesofPoliticalEconomy，Vol。I，Dublin，1770，p。396——Ed。]hasit，makingthemavailableforexploitationinotherspheres。

　　Butwhatcanbesaidofmorerecentwritersoneconomics，suchasDaire，Passy，etc。，whoparrotthemostprimitiveconceptionsconcerningthenaturalconditionsofsurplus-labourandtherebysurplus-valueingeneral，inthetwilightofclassicaleconomy，indeedonitsverydeath-bed，andwhoimaginethattheyarethuspropoundingsomethingnewandstrikingonground-rent[Daire，Introduction。In:Physiocrats，1。Teil，Paris，1846；Passy，Rentedusol。In:Dictionnairedel？eacute；conomiepolitique，TomeII，Paris，1854，p。511——Ed。]longafterthisground-renthasbeeninvestigatedasaspecialformandbecomeaspecificportionofsurplus-value？

　　Itisparticularlycharacteristicofvulgareconomythatitechoeswhatwasnew，original，profoundandjustifiedduringaspecificoutgrownstageofdevelopment，inaperiodwhenithasturnedplatitudinous，stale，andfalse。Itthusconfessesitscompleteignoranceoftheproblemswhichconcernedclassicaleconomy。Itconfoundsthemwithquestionsthatcouldonlyhavebeenposedonalowerlevelofdevelopmentofbourgeoissociety。Thesameholdstrueofitsincessantandself-complacentruminationofthephysiocraticphrasesconcerningfreetrade。Thesephraseshavelongsincelostalltheoreticalinterest，nomatterhowmuchtheymayengagethepracticalattentionofthisorthatstate。

　　Innaturaleconomyproper，whennopartoftheagriculturalproduct，orbutaveryinsignificantportion，entersintotheprocessofcirculation，andthenonlyarelativelysmallportionofthatpartoftheproductwhichrepresentsthelandlord抯revenue，as，e。g。，inmanyRomanlatifundia，oruponthevillasofCharlemagne，ormoreorlessduringtheentireMiddleAgesseeVin&ccedil；ard，Histoiredutravail，theproductandsurplus-productofthelargeestatesconsistsbynomeanspurelyofproductsofagriculturallabour。Itencompassesequallywelltheproductsofindustriallabour。Domestichandicraftsandmanufacturinglabourassecondaryoccupationsofagriculture，whichformsthebasis，aretheprerequisiteofthatmodeofproductionuponwhichnaturaleconomyrests——inEuropeanantiquityandtheMiddleAgesaswellasinthepresent-dayIndiancommunity，inwhichthetraditionalorganisationhasnotyetbeendestroyed。Thecapitalistmodeofproductioncompletelyabolishesthisrelationship；aprocesswhichmaybestudiedonalargescaleparticularlyinEnglandduringthelastthirdofthe18thcentury。ThinkerslikeHerrenschwand，whohadgrownupinmoreorlesssemi-feudalsocieties，stillconsider，e。g。，aslateasthecloseofthe18thcentury，thisseparationofmanufacturefromagricultureasafoolhardysocialadventure，asanunthinkablyriskymodeofexistence。Andevenintheagriculturaleconomiesofantiquityshowingthegreatestanalogytocapitalistagriculture，namelyCarthageandRome，thesimilaritytoaplantationeconomyisgreaterthantoaformcorrespondingtothereallycapitalistmodeofexploitation。[42a]Aformalanalogy，which，simultaneously，however，turnsouttobecompletelyillusoryinallessentialpointstoapersonfamiliarwiththecapitalistmodeofproduction，whodoesnot，likeHerrMommsen，[43]discoveracapitalistmodeofproductionineverymonetaryeconomy，isnottobefoundatallincontinentalItalyduringantiquity，butatbestonlyinSicily，sincethisislandservedRomeasanagriculturaltributarysothatitsagriculturewasaimedchieflyatexport。Farmersinthemodernsenseexistedthere。

　　Anerroneousconceptionofthenatureofrentisbaseduponthefactthatrentinkind，partlyastithestothechurchandpartlyasacuriosityperpetuatedbylong-establishedcontracts，hasbeendraggedoverintomoderntimesfromthenaturaleconomyoftheMiddleAges，completelyincontradictiontotheconditionsofthecapitalistmodeofproduction。Ittherebycreatestheimpressionthatrentdoesnotarisefromthepriceoftheagriculturalproduct，butfromitsmass，thusnotfromsocialconditions，butfromtheearth。Wehavepreviouslyshownthatalthoughsurplus-valueismanifestedinasurplus-producttheconversedoesnotholdthatasurplus-product，representingamereincreaseinthemassofproduct，constitutessurplus-value。

　　Itmayrepresentaminusquantityinvalue。Otherwisethecottonindustryof1860，comparedwiththatof1840，wouldshowanenormoussurplus-value，whereasonthecontrarythepriceoftheyarnhasfallen。Rentmayincreaseenormouslyasaresultofasuccessionofcropfailures，becausethepriceofgrainrises，althoughthissurplus-valueappearsasanabsolutelydecreasingmassofdearerwheat。Conversely，therentmayfallinconsequenceofasuccessionofbountifulyears，becausethepricefalls，althoughthereducedrentappearsasagreatermassofcheaperwheat。Asregardsrentinkind，itshouldbenotednowthat，inthefirstplace，itisameretraditioncarriedoverfromanobsoletemodeofproductionandmanagingtoprolongitsexistenceasasurvival。Itscontradictiontothecapitalistmodeofproductionisshownbyitsdisappearanceofitselffromprivatecontracts，anditsbeingforciblyshakenoffasananachronism，whereverlegislationwasabletointerveneasinthecaseofchurchtithesinEngland。Secondly，however，whererentinkindpersistedonthebasisofcapitalistproduction，itwasnomore，andcouldbenomore，thananexpressionofmoney-rentinmedievalgarb。Wheat，forinstance，isquotedat40shillingsperquarter。

　　Oneportionofthiswheatmustreplacethewagescontainedtherein，andmustbesoldtobecomeavailableforrenewedexpenditure。Anotherportionmustbesoldtopayitsproportionateshareoftaxes。Seedandevenaportionoffertiliserenterascommoditiesintotheprocessofreproduction，whereverthecapitalistmodeofproductionandwithitdivisionofsociallabouraredeveloped，i。e。，theymustbepurchasedforreplacementpurposes；

　　andthereforeanotherportionofthisquartermustbesoldtoobtainmoneyforthis。Insofarastheyneednotbeboughtasactualcommodities，butaretakenoutoftheproductitselfinkind，inordertoenterintoitsreproductionanewasconditionsofproduction——asoccursnotonlyinagriculture，butinmanyotherlinesofproductionproducingconstantcapital——theyfigureinthebooksasmoneyofaccountandaredeductedaselementsofthecost-price。Thewearandtearofmachinery，andoffixedcapitalingeneral，mustbemadegoodinmoney。Andfinallycomesprofit，whichiscalculatedonthissum，expressedascostseitherinactualmoneyorinmoneyofaccount。Thisprofitisrepresentedbyadefiniteportionofthegrossproduct，whichisdeterminedbyitsprice。Andtheexcessportionwhichthenremainsformsrent。Iftherentinkindstipulatedbycontractisgreaterthanthisremainderdeterminedbytheprice，thenitdoesnotconstituterent，butadeductionfromprofit。Owingtothispossibilityalone，rentinkindisanobsoleteform，insofarasitdoesnotreflectthepriceoftheproduct，butmaybegreaterorsmallerthantherealrent，andthusmaycomprisenotonlyadeductionfromprofit，butalsofromthoseelementsrequiredforcapitalreplacement。Infact，thisrentinkind，sofarasitisrentnotmerelyinnamebutalsoinessence，isexclusivelydeterminedbytheexcessofthepriceoftheproductoveritspriceofproduction。Onlyitpresupposesthatthisvariableisaconstantmagnitude。

　　Butitissuchacomfortingreflectionthattheproductinkindshouldsuffice，first，tomaintainthelabourersecondly，toleavethecapitalisttenantfarmermorefoodthanheneeds，andfinally，thattheremaindershouldconstitutethenaturalrent。Quitelikeamanufacturerproducing200，000yardsofcottongoods。Theseyardsofgoodsnotonlysufficetoclothehislabourers；toclothehiswife，allhisoffspringandhimselfabundantly；butalsoleaveoverenoughcottonforsale，inadditiontopayinganenormousrentintermsofcottongoods。Itisallsosimple！

　　Deductthepriceofproductionfrom200，000yardsofcottongoods，andasurplusofcottongoodsmustremainforrent。Butitisindeedanaiveconceptiontodeductthepriceofproductionof，say，&pound；10，000from200，000yardsofcottongoods，withoutknowingthesellingprice，todeductmoneyfromcottongoods，todeductanexchange-valuefromause-valueassuch，andthustodeterminethesurplusofyardsofcottongoodsoverpoundssterling。Itisworsethansquaringthecircle，whichisatleastbasedupontheconceptionthatthereisalimitatwhichstraightlinesandcurvesimperceptiblyflowtogether。ButsuchistheprescriptionofM。Passy。

　　Deductmoneyfromcottongoods，beforethecottongoodshavebeenconvertedintomoney，eitherinone抯mindorinreality！Whatremainsistherent，which，however，istobegraspednaturalitersee，forinstance，KarlArnd[K。Arnd，Dienaturgem&auml；sseVolkswirtschaft，gegen&uuml；berdemMonopoliengeisteunddemCommunismus，Hanau，1845，S。461-62——Ed。]andnotbydeviltriesofsophistry。Theentirerestorationofrentinkindisfinallyreducedtothisfoolishness，thedeductionofthepriceofproductionfromsomanyandsomanybushelsofwheat，andthesubtractionofasumofmoneyfromacubicmeasure。

　　II。LABOURRENT

　　Ifweconsiderground-rentinitssimplestform，thatoflabourrent，wherethedirectproducer，usinginstrumentsoflabourplough，cattle，etc。whichactuallyorlegallybelongtohim，cultivatessoilactuallyownedbyhimduringpartoftheweek，andworksduringtheremainingdaysupontheestateofthefeudallordwithoutanycompensationfromthefeudallord，thesituationhereisstillquiteclear，forinthiscaserentandsurplus-valueareidentical。Rent，notprofit，istheformherethroughwhichunpaidsurplus-labourexpressesitself。Towhatextentthelaboureraself-sustainingserfcansecureinthiscaseasurplusabovehisindispensablenecessitiesoflife，i。e。，asurplusabovethatwhichwewouldcallwagesunderthecapitalistmodeofproduction，depends，othercircumstancesremainingunchanged，upontheproportioninwhichhislabour-timeisdividedintolabour-timeforhimselfandenforcedlabour-timeforhisfeudallord。

　　Thissurplusabovetheindispensablerequirementsoflife，thegermofwhatappearsasprofitunderthecapitalistmodeofproduction，isthereforewhollydeterminedbytheamountofground-rent，whichinthiscaseisnotonlydirectlyunpaidsurplus-labour，butalsoappearsassuch。Itisunpaidsurplus-labourforthe”owner”ofthemeansofproduction，whichherecoincidewiththeland，andsofarastheydifferfromit，aremereaccessoriestoit。Thattheproductoftheserfmustheresufficetoreproducehisconditionsoflabour，inadditiontohissubsistence，isacircumstancewhichremainsthesameunderallmodesofproduction。Foritisnottheresultoftheirspecificform，butanaturalrequisiteofallcontinuousandreproductivelabouringeneral，ofanycontinuingproduction，whichisalwayssimultaneouslyreproduction，i。e。，includingreproductionofitsownoperatingconditions。Itisfurthermoreevidentthatinallformsinwhichthedirectlabourerremainsthe”possessor”ofthemeansofproductionandlabourconditionsnecessaryfortheproductionofhisownmeansofsubsistence，thepropertyrelationshipmustsimultaneouslyappearasadirectrelationoflordshipandservitude，sothatthedirectproducerisnotfree；alackoffreedomwhichmaybereducedfromserfdomwithenforcedlabourtoameretributaryrelationship。Thedirectproducer，accordingtoourassumption，istobefoundhereinpossessionofhisownmeansofproduction，thenecessarymateriallabourconditionsrequiredfortherealisationofhislabourandtheproductionofhismeansofsubsistence。

　　Heconductshisagriculturalactivityandtheruralhomeindustriesconnectedwithitindependently。Thisindependenceisnotunderminedbythecircumstancethatthesmallpeasantsmayformamongthemselvesamoreorlessnaturalproductioncommunity，astheydoinIndia，sinceitisheremerelyaquestionofindependencefromthenominallordofthemanor。Undersuchconditionsthesurplus-labourforthenominalownerofthelandcanonlybeextortedfromthembyotherthaneconomicpressure，whatevertheformassumedmaybe。[44]Thisdiffersfromslaveorplantationeconomyinthattheslaveworksunderalienconditionsofproductionandnotindependently。Thus，conditionsofpersonaldependencearerequisite，alackofpersonalfreedom，nomattertowhatextent，andbeingtiedtothesoilasitsaccessory，bondageinthetruesenseoftheword。Shouldthedirectproducersnotbeconfrontedbyaprivatelandowner，butrather，asinAsia，underdirectsubordinationtoastatewhichstandsoverthemastheirlandlordandsimultaneouslyassovereign，thenrentandtaxescoincide，orrather，thereexistsnotaxwhichdiffersfromthisformofground-rent。Undersuchcircumstances，thereneedexistnostrongerpoliticaloreconomicpressurethanthatcommontoallsubjectiontothatstate。Thestateisthenthesupremelord。Sovereigntyhereconsistsintheownershipoflandconcentratedonanationalscale。But，ontheotherhand，noprivateownershipoflandexists，althoughthereisbothprivateandcommonpossessionanduseofland。

　　Thespecificeconomicform，inwhichunpaidsurplus-labourispumpedoutofdirectproducers，determinestherelationshipofrulersandruled，asitgrowsdirectlyoutofproductionitselfand，inturn，reactsuponitasadeterminingelement。Uponthis，however，isfoundedtheentireformationoftheeconomiccommunitywhichgrowsupoutoftheproductionrelationsthemselves，therebysimultaneouslyitsspecificpoliticalform。

　　Itisalwaysthedirectrelationshipoftheownersoftheconditionsofproductiontothedirectproducers——arelationalwaysnaturallycorrespondingtoadefinitestageinthedevelopmentofthemethodsoflabourandtherebyitssocialproductivity——whichrevealstheinnermostsecret，thehiddenbasisoftheentiresocialstructureandwithitthepoliticalformoftherelationofsovereigntyanddependence，inshort，thecorrespondingspecificformofthestate。Thisdoesnotpreventthesameeconomicbasis——thesamefromthestandpointofitsmainconditions——duetoinnumerabledifferentempiricalcircumstances，naturalenvironment，racialrelations，externalhistoricalinfluences，etc。fromshowinginfinitevariationsandgradationsinappearance，whichcanbeascertainedonlybyanalysisoftheempiricallygivencircumstances。

　　Somuchisevidentwithrespecttolabourrent，thesimplestandmostprimitiveformofrent:Rentisheretheprimevalformofsurplus-labourandcoincideswithit。Butthisidentityofsurplus-valuewithunpaidlabourofothersneednotbeanalysedherebecauseitstillexistsinitsvisible，palpableform，sincethelabourofthedirectproducerforhimselfisstillseparatedinspaceandtimefromhislabourforthelandlordandthelatterappearsdirectlyinthebrutalformofenforcedlabourforathirdperson。

　　Inthesamewaythe”attribute”possessedbythesoiltoproducerentisherereducedtoatangiblyopensecret，forthedispositiontofurnishrentherealsoincludeshumanlabour-powerboundtothesoil，andthepropertyrelationwhichcompelstheowneroflabour-powertodriveitonandactivateitbeyondsuchmeasureasisrequiredtosatisfyhisownindispensableneeds。Rentconsistsdirectlyintheappropriationofthissurplusexpenditureoflabour-powerbythelandlord；forthedirectproducerpayshimnoadditionalrent。Here，wheresurplus-valueandrentarenotonlyidenticalbutwheresurplus-valuehasthetangibleformofsurplus-labour，thenaturalconditionsorlimitsofrent，beingthoseofsurplus-valueingeneral，areplainlyclear。Thedirectproducermust1possessenoughlabour-power，and2

　　thenaturalconditionsofhislabour，aboveallthesoilcultivatedbyhim，mustheproductiveenough，inaword，thenaturalproductivityofhislabourmustbebigenoughtogivehimthepossibilityofretainingsomesurplus-labouroverandabovethatrequiredforthesatisfactionofhisownindispensableneeds。Itisnotthispossibilitywhichcreatestherent，butrathercompulsionwhichturnsthispossibilityintoreality。