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Well the concept of economic rents was created by economists to describe reality, but I think most economists view the majority of rents as being 'bad'. I also
by nickff 6y ago
Well the concept of economic rents was created by economists to describe reality, but I think most economists view the majority of rents as being 'bad'. I also think you are overestimating how 'free-market oriented' and self-interested most economists are, and would recommend that you look at a "Survey of Americans and Economists on the Economy".
The current system is really optimized to maximally benefit the FCC; it gives them huge revenues without much cost to administer. Existing mobile carriers are also probably beneficiaries of the current system, but it's hard to blame them for that, as they've structured themselves to conform with the government's system.
- jjoonathan 6y agoPaid (or unpaid!) apologists are much more visible and attention-drawing than their more in-touch peers, so I probably overestimate their prevalence in the overall population of economists, but by the very same yardstick they have an outsized effect on economic discussions. They earn every bit of the ire I throw in their direction, but I could probably do a better job of specifically targeting it. > Existing mobile carriers are also probably beneficiaries of the current system, but it's hard to blame them for that Only to the extent that they played no part in making or encouraging the system that we agree is bad.
- nickff 6y agoI am not really sure which apologists you have developed an ire for; I've only ever heard economists say that the auction system is better than the previous, arbitrary licensing system. Do you have any specific examples of these groups of apologists? I don't especially like rent-seeking, but in this case, it's more like begging than anything else; the government is the one responsible for this mess.