Natural resources available for producing goods or delivering services
  • Fuels - Petroleum, natural gas, coal and other materials used to produce energy


General Observations Concerning the Theory of Rent, by Ludwig von Mises, Human Action: A Treatise on Economics, 1949
Chapter 22 "The Nonhuman Original Factors of Production", section 1; explains that the differential rent concept, formulated by David Ricardo, can in general be accepted within modern economics, whereas the residual rent idea is incorrect
"The fact that land of different quality and fertility, i.e., yielding different returns per unit of input, is valued differently does not pose any special problem to modern economics. ... Land and the services it renders are dealt with in the same way as other factors of production and their services. ... Only if one clings naively to general terms such as land or labor, is one puzzled by the question why land and labor are differently valued and appraised. "
Related Topic: Economic Resources
Of the Rent of Land, by Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776
Book One, Chapter XI
"Rent, considered as the price paid for the use of land, is naturally the highest which the tenant can afford to pay in the actual circumstances of the land. In adjusting the terms of the lease, the landlord endeavours to leave him no greater share of the produce than what is sufficient to keep up the stock from which he furnishes the seed, pays the labour, and purchases and maintains the cattle and other instruments of husbandry, together with the ordinary profits of farming stock in the neighbourhood."
The Many Monopolies, by Charles W. Johnson, 24 Aug 2011
Describes four ways in which markets are distorted by government interventions, explains Tucker's "Four Monopolies", examines five present-day monopolies and discusses Tucker's libertarian views
"Land titles in nineteenth-century America had nothing to do with free markets. All unoccupied land was claimed by government, whose military seized land from Indians, Mexicans, and independent 'squatters.' ... Since 1888 the land monopoly has dramatically expanded. Governments worldwide have nationalized oil, natural gas, and water resources; in the United States mining rights and fossil fuel exploration are largely accessed through government licenses, due to government's ownership of 50 percent of the American West."