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Rent is sort of surplus gained due to advantage of scarcity rather than advantage of production. Unfortunately, I cannot write a HN comment that differentiates
by scarejunba 7y ago
Rent is sort of surplus gained due to advantage of scarcity rather than advantage of production. Unfortunately, I cannot write a HN comment that differentiates more clearly but that's the rough idea.
Like setting up a guild and saying no one can do work except through the guild and then using that advantage of pricing is rent-seeking.
Just being better at doing work so you make more money is profiting.