Die städtische Grundrente im Konjunkturverlauf

[Title Page and Institutional Metadata]: Title page and administrative information for the publication, including the editorial board and committee members of the Frankfurt Society for Business Cycle Research. [Preface]: A brief preface by Karl Pribram noting that the text is a transcript of a lecture given in January 1930 and referencing a related report on housing policy. [Urban Ground Rent in the Business Cycle]: Pribram critiques the static theory of urban ground rent, primarily associated with Friedrich von Wieser, which explains rent as a differential based on location. He argues that this theory fails to explain why rent exists at the urban periphery or why rents tend to rise continuously. Pribram introduces a dynamic perspective, asserting that the 'absolute' ground rent arises from the cyclical nature of the economy: during booms, construction costs rise and pull rents upward, but due to the 'stickiness' (Beharrungstendenz) of rents, they do not fall during depressions when construction costs decrease. This gap between high existing rents and lower new construction costs in depressions is capitalized into ground rent, explaining the persistent upward trend in urban land values across all locations.