ABSTRACT
§1. Land, considered as a separate factor of production, is commonly said to have two peculiarities. It is fixed in position and limited in quantity. For certain purposes, as has been pointed out above, income from land is best considered as merely part of the larger category of incomes from property, but the two peculiarities just noticed make it possible and sometimes useful to consider land separately. There is often, of course, great practical difficulty in distinguishing income derived from land from income derived from capital sunk in the land, but this difficulty will not be pursued here.
