[OPE-L:2069] Gold (Questions)

From: John Ernst (ernst@pipeline.com)
Date: Sun Jan 09 2000 - 12:41:08 EST

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Why must one assume that the gold producers earn(ed) no absolute
rent? That is, if the marginal gold producer earns only the average rate
of profit, then his production produces no rent. Must this happen?
Why? Is this a natural thing or social determined concept or something
necessary to preserve the idea of a computable equilibrium rate of

What of other producers in sectors that earn rent?


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