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The argument would be that the right to seek rent from your capital goods, whether created, bought, or inherited, is what drives people to create these rent-cre
by eof 10y ago
The argument would be that the right to seek rent from your capital goods, whether created, bought, or inherited, is what drives people to create these rent-creating systems in the first place.
If people didn't have the right to seek rent from the houses they build or inventions they come up with, why would they expend the effort in the first place?
(note, I don't take that view exactly, I believe motivation comes from a whole lot of places)
- lr4444lr 10y agoNot your view exactly, perhaps, but cuts to the heart of Efficient Market Hypothesis.
- the_cat_kittles 10y agoyes, its a good point to make. and not wrong, but i wouldn't say its the whole story. people have been creative and ingenious long before money existed. i certainly dont have enough historical knowledge, evidence, or thinking to make a compelling argument that money doesn't inspire creativity, but i really do have a suspicion that most good stuff comes from people who do it "just because", not to get rich. look at the incredible academics, artists, writers etc throughout history that weren't ever rich, nor really made the effort to be. but, for lots of day to day stuff, i do think money keeps the gears turning. so, i guess "why would they expend the effort in the first place?" ... because its fun.