ABSTRACT
This chapter discusses the Gustav Cassel's analysis of the general nature of rent - an analysis which he used as the background for a separate discussion of the nature of the rent of mines. This discussion of the rent of mines is the next aspect of Cassel's work and it precedes an appraisal of his extensive treatment of decision making in the mine and the effects of changes in the values of relevant variables upon it. In discussing the return to natural materials Cassel again asserts that their price is simply the price of consumption goods found in nature. Once technological change is accounted for, says Cassel, the long run elasticity of supply of minerals will be found to be relatively high. The interrelationship between different mines in the context of a mineral industry is the next aspect of Cassel's work to be discussed and this constitutes the last aspect of his treatment of mineral extraction to be reviewed.
