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Even if you don't rent out your residence (you live there), you're still collecting implicit rent. It's the value you would have been paying to be a renter, soc
by xvedejas 8y ago
Even if you don't rent out your residence (you live there), you're still collecting implicit rent. It's the value you would have been paying to be a renter, society loses because you exclude others from your residence. And every residence has to be owned by someone. You cannot escape rent seeking unless you're homeless or live in a jurisdiction with a "Land Value Tax".
- rwnspace 8y agoThat's an incredibly thin argument (society loses because you don't let someone pay rent to live in your home). You have to deny the existence of second-order intangibles which seed first-order tangible economic value such as community and social cohesion. If you like, ownership-based behavioural incentives. A 'stake in society'.
- xvedejas 8y agoYou misunderstand my argument entirely. The problem isn't that society loses because you don't let someone pay rent in your home. Society loses because you don't let someone else live in your home for free, but you do let yourself do that. This is the value you extract from owning the land, which nobody else can extract.