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The author explores the simple, common sense assumptions that have determined economic theories of land values and land uses in our cities; his is the first full analysis of urban land uses in terms of orthodox economic theory. Including diagrammatic and verbal as well as mathematical explanations, he extends the theory of rent, hitherto formulated only for agriculture, and explains recent developments that appear to contradict accepted theory. In addition, he challenges current urban redevelopment policies in this country, and discusses implications of economic development in new countries.