4 ms·
Let's add "rent seeking" to the list of terms you've failed to properly understand. http://en.wikipedia.org/wiki/Rent_seeking http://en.wikipedia.org/wiki/Rent
by alexqgb 14y ago
Let's add "rent seeking" to the list of terms you've failed to properly understand.
http://en.wikipedia.org/wiki/Rent_seeking http://en.wikipedia.org/wiki/Rent_seeking
You'll note that the defining characteristic of rent seeking behavior is the effort to avoid producing new and valuable work by expending resources petitioning for changes in the regulatory environment instead (e.g. diverting resources from the production of new movies to lobby for retroactive extensions of copyright protection on old movies). In other words, it has a precise, limited meaning and is not a fancy term for "just wanting to charge rent in general".
AP going to court to enforce existing laws protecting new work is pretty much the opposite of rent seeking behavior in that (a) they're spending resources to operate within the existing regulatory framework, not petitioning to alter it in their favor and (b) they're doing so in conjunction with the production of new (and presumably) economically valuable work.
- 001sky 14y agoYou actually need to understand "economic rents" are first.