The Land Theory of Value
DOI link for The Land Theory of Value
The Land Theory of Value book
Cantillon summarized his theory of value in the very first sen tence of part two of the Essai.
In part I an attempt was made to prove that the real value of everything used by man is proportionable to the quan tity of land used for its production and for the upkeep of those who have fashioned it. (Essai: 115)
The land theory of value, set out in this extract, is unique - no other significant economist has claimed that value is deter mined by the amount of land used in production, though several have held a labour theory of value, (cf. Brems, 1978; Herlitz, 1961; Samuelson, 1959:19).