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So if I have, say, a machine that makes t-shirt more cost-effectively than my competitors, your claim is that I'm 'rent-seeking'? Do you think that because it's

by roel_v 10y ago

So if I have, say, a machine that makes t-shirt more cost-effectively than my competitors, your claim is that I'm 'rent-seeking'? Do you think that because it's not innovative, or because I'm the only one with such a machine? (This is a trick question. Before you answer, please make sure you actually know what 'rent-seeking' means, because it's obvious that most other commenters don't.)

pjc50 10y ago
"Rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth" - WP. The more efficient T-shirt machine produces more with less, therefore the overall resources available go up. Not rent-seeking. Having a patent on the machine, and/or attempting to sabotage the creation of similar machines? Rent-seeking.