Rent extraction is bad, since it hurts productivity. Ill admit I am an unabashed Georgist, but the book Progress and Poverty by Henry George is pretty accessibl

Rent extraction is bad, since it hurts productivity. Ill admit I am an unabashed Georgist, but the book Progress and Poverty by Henry George is pretty accessible. But basically this: Capital and Capitalists are good, they have money, then lend it for ownership, this creates innovation. Labor is good, you need workers, they work, they produce, its good. But Rent (extracting value from land, patents, etc.) is just a negative drain, labor has to pay rent, capital has to pay rent, but they don't really innovate and grow the economy.