3 ms·
>rent-seeking, Unfortunately "capitalism" is a pretty ill-defined term. I wouldn't include "rent-seeking" as a characteristic of "capitalism" but apparently y
by gwright 5y ago
>rent-seeking,
Unfortunately "capitalism" is a pretty ill-defined term. I wouldn't include "rent-seeking" as a characteristic of "capitalism" but apparently you do.
This makes it very difficult to have coherent discussions. For what it is worth, I think "rent-seeking" is probably a characteristic of all economic systems and therefore isn't something peculiar to "capitalism" and so shouldn't be used as a criticism of "capitalism".
- goodpoint 5y ago> I wouldn't include "rent-seeking" as a characteristic of "capitalism" According to what theory? https://en.wikipedia.org/wiki/Rent-seeking https://en.wikipedia.org/wiki/Rent-seeking fits squarely into capitalism.
- gwright 5y agoRent-seeking isn't a phenomena that is unique to capitalism. It is something present in many different (all?) economic systems. So while it is completely fair to be critical of rent-seeking that isn't by itself a criticism of capitalism.