Boden, der vergessene Produktionsfaktor

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During the low-interest rate phase that followed the financial crisis of 2008/2009, the share of capital income decreased. Land as a production factor made noticeable gains especially given that the distribution position of labour did not significantly improve. However, this is not reflected in the national accounts, as land is not shown separately in the official statistics of the distribution of the national income. Based on the Henry George theorem, the article attempts to show a method to quantify the income share of land in macroeconomic terms. The explicit reporting of the land income in the national accounts could contribute to the revision of the role of this hitherto neglected factor of production.

Translated title of the contributionLand, the Forgotten Factor of Production
Original languageGerman
Issue number3
Pages (from-to)221-226
Number of pages6
Publication statusPublished - 01.03.2021