Explanation : In his 'The Principles of Political Economy and Taxation (1821), David Ricardo stated: "Rent Is that portion of the produce of the earth, which is paid to the landlord for the use of the original and indestructible powers of the soil. It is often, however, confounded with the interest and profit of capital, and, in popular language, the term is applied to whatever is annually paid by a farmer to his landlord." ....Read more