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Rh other for the five. The great body of landlords and tenants, like the great body of producers in any other industry, does not profit by an increased productivity in its special field of work, except to the extent that it consumes or repurchases its own product. The profit of this increase goes to the people at large, the consumers. So it is not true (assuming always a régime of free competition) that Edgeworth's tenant "profits three times as much" as Edgeworth because of the latter's preparatory labors. Neither of them profit thereby, but each gets an hour of some other man's labor for an hour of his own. So much for the reward of labor in general. Now to get back to the question of rent.

If Edgeworth performs preparatory labor on a cotton field, the result of which would remain intact if the field lay idle, and that result is damaged by a tenant, the tenant ought to pay him for it on the basis of reward above defined. This does not bring a right of ownership to the tenant, to be sure, for the property has been destroyed and cannot be purchased. But the transaction, nevertheless, is in the nature of a sale, and not a payment for a loan. Every sale is an exchange of labor, and the tenant simply pays money representing his own labor for the result of Edgeworth's labor which he (the tenant) has destroyed in appropriating it to his own use. If the tenant does not damage the result of Edgeworth's preparatory labor, then, as Edgeworth admits, whatever money the tenant pays justly entitles him to that amount of ownership in the cotton field. Now, this money, paid over and above all damage, if it does not bring equivalent ownership, is payment for use, usury, and, in my terminology, rent. If Edgeworth prefers to use the word rent to signify all money paid to landlords as such by tenants as such for whatever reason, I shall think his use of the word inaccurate; but I shall not quarrel with him, and shall only protest when he interprets other men's thought by his own definitions, as he seemed to me to have done in Proudhon's case. If he will be similarly peaceful towards me in my use of the word, there will be no logomachy. The difference between us is just this. Edgeworth says that from tenant to landlord there is payment for damage, and this is just rent; and there is payment for use, and that is unjust rent. I say there is payment for damage, and this is indemnification or sale, and is just; and there is payment for use, and that is rent, and is unjust. My use of the word is in accordance with the dictionary, and is more definite and discriminating than the other; moreover, I find it more effective in