Theoretical Significance
This theory is the least known part of Marx's economic writings, and among the more difficult ones, because earnings from farm work can be affected by many different variables, even at a highly abstract level. However the theory became very important to neo-Marxists such as Ernest Mandel who interpreted late capitalism as a form of increasingly parasitic rentier capitalism in which surplus profits are obtained by capitalists from monopolising the access to resources, assets and technologies under conditions of imperfect competition. Marxist writers such as Cyrus Bina have extended the concept of rents to oil rents .
Read more about this topic: Differential And Absolute Ground Rent
Famous quotes containing the words theoretical and/or significance:
“The hypothesis I wish to advance is that ... the language of morality is in ... grave disorder.... What we possess, if this is true, are the fragments of a conceptual scheme, parts of which now lack those contexts from which their significance derived. We possess indeed simulacra of morality, we continue to use many of the key expressions. But we have—very largely if not entirely—lost our comprehension, both theoretical and practical, of morality.”
—Alasdair Chalmers MacIntyre (b. 1929)
“Politics is not an end, but a means. It is not a product, but a process. It is the art of government. Like other values it has its counterfeits. So much emphasis has been placed upon the false that the significance of the true has been obscured and politics has come to convey the meaning of crafty and cunning selfishness, instead of candid and sincere service.”
—Calvin Coolidge (1872–1933)