Lesson 5: The Dog in the Manger

Please read chapters 22 - 23 and start on  The Boom/Bust Cycle.

1. As population grows and material progress advances, why is some land held out of use? (chapter 22; Law of Rent)
 

 
2. In a growing economy, why does rent always take an increasing portion of the wealth produced? (Wages, Interest and Profits)
 


3. In an open market, what is the effect of (chapter 21)
 
a) speculation in commodities? 
 
b) speculation in land? 

4. How does withholding land from use affect the margin of production? (chapter 21)


 
5. Need land be held from use completely to lower the margin? (Boom/Bust...)
 

 
6. What is the effect of land speculation on the production of wealth? (chapter 21)
 

 
7. What are some environmental effects of land speculation? (Boom/Bust...)



8. What are some social effects of land speculation? (Boom/Bust...) 



9. What is the effect of land speculation on (chapter 22)
 


10. Why is land speculation not always profitable? (Boom/Bust...)