Comment by roel_v
9 years ago
"I think the parent and others that dislike rent-seeking"
Jesus fuck I just wish people would stop throwing that word around trying to sound like economists when they obviously have no idea what it even means. Renting out real estate is not rent seeking.
> Renting out real estate is not rent seeking.
While to a certain extent real estate has been transformed into something that, in some cases, approximates a commodity, it is historically the canonical non-subsitutable monopolized good where each item lacks perfect substitutes, which is why “rent-seeking” is literally named after what landlords do. Renting out real estate is the “trope naming” instance of rent-seeking.
ok, then perhaps I should say, "seeking rent for long periods of time on a necessity, with no exchange of value in the long term for the person paying"