Sentence examples for scarce factor from inspiring English sources

Mr Piketty is sympathetic to David Ricardo's view of the importance of the scarce factor in production: gains from growth will tend to be captured by that which is most scarce in the economy.

It could make a difference to productivity growth in the economy, but just because land in productive cities ceases to be the scarce factor does not mean that gains will instead flow to labour.

Such cities may be the ultimate scarce factor and the owners of land in those cities the ultimate beneficiaries of these broad trends.You can see the previous entry in the series here.

As a result, he speculated, land rents would come to eat up a steadily rising share of national income, threatening the capitalist system.Ricardo was wrong in the long run soaring agricultural productivity (which both he and Malthus failed to anticipate) meant that agricultural land was not the scarce factor for very long.

Whether labour hangs on in such fashion or is brushed aside through automation, the implications for labour earnings are grim.The second big question is: in this world of rising capital stocks and income shares, what is the scarce factor, which is able to capture the benefits of economic growth?

Thus, the lower-cost producers, whose output was necessarily limited by a factor constraint, earn a rent on that scarce factor that is equal to the difference between the world price and their own (lower) cost of production.

The theory suggests that freer trade benefits the "abundant," but harms the "scarce," factors of production.

Instead, he looks around the world to find the relatively scarce factors of production and finds two: natural resources, which are dwindling, and good ideas, which can reach larger markets than ever before.

As is the case in the majority of farm households in the country, land is one of the scarce factors of production in the study area.

When a relatively low-cost producer runs into an endowment constraint, a higher-cost producer needs to enter the market, thus raising the world price of the good in question and allowing the lower-cost producers to earn rents on their scarce factors.

They find that farmers have strong preferences for certain technologies, in particular those that conserve scarce factors of production or maximize farm income, but are ambivalent about others.