3 ms·
The problem is that adam smith meant “free from economic rents” when he used the phrase “free market” but now it means “free to charge economic rent”. Makes it
by awakeasleep 5y ago
The problem is that adam smith meant “free from economic rents” when he used the phrase “free market” but now it means “free to charge economic rent”.
Makes it hard to discuss because people use the same phrase to mean completely opposite things.
- onphonenow 5y agoGreat point! Yeah, the rent seeking in medicine is insane. Just residency slots are so hard to get these days.