ABSTRACT
Rent implies private property. Where there is no private property there can be no rent. There could be no buying or selling, consequently no rent, apart from ownership. Goods which serve their purpose only by entering into permanent combination with other goods are not rented. The tenant who rents a farm does not rent separately the land, hedges, fences, ditches, and durable improvements on the land. The entrepreneur of a new enterprise cannot be sure that his business will succeed. There is a difference between the use and the product of an agent, a difference between the uses of a farm and the corn, wheat, or potatoes which that farm produces. The purpose of renting or of buying the uses of the farm is to secure the products or yield of the farm. The renting contract is made before the renter takes possession. Monopoly rents obey the same principle as do monopoly prices which have already found discussion.
