2 ms·
It's defined as 'economic rent', of which housing rent is a type. "In classical economics, economic rent is any payment made (including imputed value) or benef
by Mikeb85 11y ago
It's defined as 'economic rent', of which housing rent is a type.
"In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents)."
https://en.wikipedia.org/wiki/Economic_rent https://en.wikipedia.org/wiki/Economic_rent
- ArkyBeagle 11y agoRack rent ( the sort you pay your landlord) is distinct from (Ricardian) land rents. FTA:"The argument on rents is important because, if correct, it means that there is nothing intrinsic to capitalism that led to this rapid rise in inequality, as for example argued by Thomas Piketty." I find Baker mostly moderate and nicely curmudgeonly.