The Laws of Economic Rent and Property
Application to the Oil Industry
Bibliographic Data
| ID | 2815696 |
|---|---|
| Authors | Cyrus Bina (Harvard University, corresponding author) |
| Year | 1992 |
| Volume | 51 |
| Issue | 2 |
| Pages | 187-204 |
| Publication date | 1992-04-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | American Journal of Economics and Sociology (JOURNAL) |
| Journal identifiers | ISSN: 0002-9246 • E-ISSN: 1536-7150 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1536-7150.1992.tb03347.x |
| OpenAlex | W2151577657 |
| Language | EN |
| Citations received | 7 |
| References cited | 23 |
Economic rentin general, andoilrent in particular, is an historically-specific, social category, reflective of uniqueproperty relations, which goes beyond the conventional notion of physical scarcity prevailing in economics literature Neither theRicardian theorynor the neoclassical general equilibrium theory suitably explain the nature of the capital-land relation and convey an understanding of the priority of their mutual interaction within theproductionprocess Being an effect of specific property relation, the phenomenon ofrentmerely assumes the status of a special category applicable to the concrete conditions of some industries Hence,political economylacks a general theory of rentThe concept of oil rent is based on the potentially conflicting interaction of ownership ofoil reserves, and that of theoil leases, within the globaloil industryThe oil rent is the result of the transformation of the existing differential productivities of oil-producing regions within the global oil industry The formation of global oil prices and differential oil rents rest on the globalcompetitionwhich has become a distinguishing feature of this industry since the early 1970s
Differential (mechanical device) · Economic rent · Economic system · Economics · Financial capital · General equilibrium theory · Human capital · Market economy · Means of production · Microeconomics · Neoclassical economics · Phenomenon · Politics · Property (philosophy) · Rent-seeking · Scarcity · Economic theories and models · Economic Theory and Policy · Law · Natural Resources and Economic Development
On the principles of political economy, and taxation.
Capital and Exploitation
Competition, Monopoly, and Differentils of Profit Rates
The Political Economy of the Rent-Seeking Society
The Anglo-Iranian Oil Dispute of 1951–1952
Capital and Exploitation
On the Principles of Political Economy, and Taxation
An Optimal Program for Managing Common Property Resources with Congestion Externalities
Exploration and Scarcity
On Rent
Theories of the capitalist economy
The Laws of Economic Rent and Property
On Marx's theory of agricultural rent∗
| Citations per year | 0.21 |
|---|---|
| Citation span | 1992 - 2025 (34) |
| Highly cited | No |