4 ms·

Is that a typo? Rent seeking refers to a specific kind of behavior https://en.m.wikipedia.org/wiki/Rent-seeking https://en.m.wikipedia.org/wiki/Rent-seeking

• glibgil 10y ago
  Exactly what I meant. Bars and museums require wealth
  • acchow 10y ago
    How is a bar owner rent seeking? They are providing a good and charging market prices for it. If bars in the city got together and introduced a bar-density limit within the city so as to limit the number of bars that can exist and thus allow them to raise prices, that would be rent seeking. If a bar hired a bunch of people to attend town hall meetings preventing new bars from opening up and allowing itself to raise prices - that would be rent-seeking. If prices of drinks are going up naturally because people are making more money, "rent" for real estate is going up, etc. that is not "rent-seeking".
    • nickjarboe 10y ago
      Not sure if I'm missing a sarcasm tag in your comment but most places in the US restrict the number of places selling hard alcohol by having a restricted number of liquor licenses that trade on the open market like taxi medallions. In San Francisco for a restaurant this will set you back a cool 1/4 million[1] and the type 48 license you need to open a bar seem be sold so rarely in San Francisco I can't find any price reference online. [1]http://www.mercerrestaurantgroup.com/how-to-open-a-restaurant/2015/2/1/everything-you-ever-wanted-to-know-about-liquor-license-continued http://www.mercerrestaurantgroup.com/how-to-open-a-restauran...
• deleted 10y ago
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