3 ms·
>A second thing would be that the phrase "society's resources" is a bit dangerous, as it might let us think that the money they're using is somehow everyone's m
by gnopgnip 3y ago
>A second thing would be that the phrase "society's resources" is a bit dangerous, as it might let us think that the money they're using is somehow everyone's money. When in fact they're spending their money on this, hoping to make a profit.
From the perspective of the whole economy it is everyone's money. Rent seeking behavior is a dead weight loss due to market inefficiency. Through tax policy the incentives can change and largely remove this inefficiency.