The immiseration of the landlords: rent in a Kaldorian theory of income distribution
将租金纳入卡尔多分配模型，分析租金占国民收入份额长期下降的意义，并说明土地需求增加如何降低利润率与投资意愿。
This paper incorporates rent within a Kaldorian model of distribution where income shares depend on aggregate investment and the propensities to save out of profits, rents and wages. The model is used to interpret the significance of the secular decline in rents as a share of national income and to specify the circumstances under which both the capital/output ratio and the wage share of national income may rise. The author pursues Keynes's suggestive remarks about land's liquidity value and shows how an increase in the demand for land, by producers, consumers or wealthholders reduces the rate of profit and therewith the inducement to invest. Copyright 2001 by Oxford University Press.