No such good exists, by the way.
Then someone had best alert Rothbard and Mises to it.
To Jon: no, there isn’t. But I never said there is.
-Jon
I don’t think that they need be alerted as to the laws of physics.
Have you read Man, Economy and State? Because I am drawing the distinction between capital and land directly from it, and it in turn draws it from Human Action. If you’re referring to the law of the conservation of energy, Rothbard does mention it in passing.
-Jon
Sorry, didnt realize you were objecting to my definition not my example.
Yes, I’m just bringing up a point Rothbard made. Otherwise I’m curious to know how one separates capital from land conceptually.
-Jon
You’re right, my phrasing didn’t distinguish capital from other factors of production that are not the product of real savings.
The very existence of an eternal “land” leads to a theory of exploitation. However if we understand that there is no such thing as land but only farms, cities, neighborhoods and buildings, then every rent is a produced good and cannot be the result of exploitation.
However, like the ERE, the virtual concept of land can be explored with economic theory.
Could you provide your own definition of the concept then? Rothbard’s distinction was between goods that had to be reproduced to provide a stream of income (i.e. capital) and those that do not (i.e. land.) The point is to show that capital has no independent earning power of its own (and thus reduces to time, land and labour.)
-Jon
Capital is wealth…
by John
Texas Drug Addiction
capital are wealth
John
Texas Drug Addiction
I think you are beyond the scope of the discussion.
Land, meaning nature in general, is a factor of production that preexists humans. For a car to be built we know that iron must be removed from its natural state.
This does fit with the point you are making though. As “natural” iron is consumed and a new car is created, wildnerness is like wise “consumed” in order to create a farm.
It appears to me that Bostwick and Irenicus are the only Austrians on this threas as no one else knew the proper definition of it.
I wuz just lettin’ them show off.