Lesson 4 — The Dynamics of Wealth Distribution

Please read chapters 19 - 21

1. What three changes in society contribute to material progress? (chapter 18)



2. What is the effect of increase of population on the productive power of labor? (chapter 19)


 
3. What does increasing population do to the margin of production? (chapter 19)



4. What is the effect of increasing population on rent and wages as proportions? (chapter 19)



5. How can increasing population raise rent as a quantity without decreasing wages and interest as quantities? (chapter 19)



6. How do inventions and improvements in the productive arts save labor? (chapter 20)


 
7. What is the effect of labor-saving inventions on total production? On the demand for land? (chapter 20)

  
 
8. What is the effect on rent of governmental expenditures on roads, drainage, irrigation, bridges, etc.? Offer an example. (chapter 20)

  
 
9. Is the increase of rent due to anything done by the landowner, as such? If so, what? (chapter 20)  
 

 
10. To what is the increase in land value mainly due?  (chapter 18)



11. As society advances, what becomes the most important factor that determines the value of land? (Law of Rent)