Although the neoclassical turn in economics demoted land as a factor, important economists of neoclassical thinking, from neoclassical predecessors such Hermann-Heinrich Gossen through figures such as Leon Walras, did view land as a distinct factor of production. Walras, in particular, favored...

Contemporary neoclassical economics has reduced factor analysis to two homogenous inputs, K and L. This excessive simplification has led to a deficient understanding of economic reality and a misunderstanding of concepts such as the producer surplus. This paper presents a taxonomy of the...

These comments were presented at a session entitled "Echoes of Henry George in Modern Analysis" held at the 2002 meetings of the Southern Economic Association. Copyright 2004 American Journal of Economics and Sociology, Inc..