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Capitalism rewards workers according to the utility of their contribution. Consider Jeff Bezos, Steve Jobs, Elon Musk, etc. Rentseekers in the literal sense (l
by javert 6y ago
Capitalism rewards workers according to the utility of their contribution. Consider Jeff Bezos, Steve Jobs, Elon Musk, etc.
Rentseekers in the literal sense (landlords) are not that big of a function of the economy. Rentseekers in the figurative sense (companies that use regulatory capture to extract wealth from others) are not a feature of capitalism, they are a feature of a mixed economy.