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property rights and economic rents have no such entanglements. you may be conflating the common definition of rent with the economic definition. economic rent i
by clairity 5y ago
property rights and economic rents have no such entanglements. you may be conflating the common definition of rent with the economic definition. economic rent is that which is above and beyond reasonable maintenance and service costs. providing well-kept housing does deserve (common) rent to landlords, but only for that productive part, not the act of holdng an asset while it inflates in value due to artifical constraints rather than value-producing activities.
home values, for instance, can appreciate in value without (economic) rents, they'd just need to become more desirable in other ways, like making improvements (we need to drastically reduce code and zoning restrictions, and review, permitting, and legal delays to allow this in economically efficient ways).
i'm absolutely in agreement about anti-trust/anti-monopoly enforcement/reform though.