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Marx’s Theory of Rent: A ‘Speculative’ Reading

  • Iman MitraEmail author
Chapter

Abstract

Marx’s theory of rent as presented in the Third Volume of Capital has been a well-researched area in the history of political economy but not many of these studies discuss the theory with respect to the exposition of the labour theory of value and primitive accumulation in the First Volume. In this backdrop, the chapter attempts to retrace the trajectory of the theory of rent in Marx’s exposition of capitalism by focusing on the status of land as a ‘commodity without value’ (not produced by labour) within this framework. By critically engaging with the writings of David Harvey and Enrique Dussel, the chapter also explores the methodological innovation in the deployment of ‘rent’ within a value-based interpretation of the capitalist mode of production and the productive ambiguity in positing the distinction between rent and interest in a capitalist society, especially in terms of competition and return on ‘fictitious capital’.

Keywords

Rent Land Labour theory of value Competition Fictitious capital 

References

  1. Christophers, Brett. 2016. For Real: Land as Capital and Commodity. Transactions of the Institute of British Geographers, 41, 134–148.Google Scholar
  2. Dussel, Enrique. 2001. Towards an Unknown Marx: A Commentary on the Manuscripts of 1861–63. London and New York: Routledge.Google Scholar
  3. Engels, Frederick. 1909. Preface. In Capital: A Critique of Political Economy. III: The Process of Capitalist Production as a Whole, Tr. Ernest Untermann, ed. K. Marx, 9–35. Frederick Engels. Chicago: Charles H. Kerr and Company. Google Scholar
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  5. Harvey, David. 1982. The Limits to Capital. Oxford: Basil Blackwell.Google Scholar
  6. Marx, Karl. 1909. Capital: A Critique of Political Economy. III: The Process of Capitalist Production as a Whole, Tr. Ernest Untermann, Ed. Frederick Engels. Chicago: Charles H. Kerr and Company.Google Scholar

Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Shiv Nadar UniversityGautam Buddha NagarIndia

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