Tankie admins continue to waste their time by banning users who are already defederated, meaning none of these users could post anyway—also some genocide denialism and being proud of an echo-chamber (sh.itjust.works)

submitted 11 months ago* (last edited 11 months ago) by goat@sh.itjust.works to c/meanwhileongrad@sh.itjust.works

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[-] CancerMancer@sh.itjust.works 9 points 11 months ago

When even the capitalists can see that rentseeking is bad for the economy, I'm not sure why we have to fight over it all the time. Classic case of zealots not reading their own literature I guess.

[-] 018118055@sopuli.xyz 3 points 11 months ago

Rent seeking in classical economics is about monopolists abusing their market position. I'm sure there are some monopolistic landlords but doubt it's the average case.

[-] NOT_RICK@lemmy.world 8 points 11 months ago

The rent of the land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give.

I’m not sure even Adam Smith of all people agrees with you

[-] 018118055@sopuli.xyz 5 points 11 months ago

Good quote thanks. I suppose he refers to the specific plot of land being rented. Still, I'm just telling what I learned in my economics a-level.

[-] CancerMancer@sh.itjust.works 5 points 11 months ago

A monopoly is not necessary, just enough influence to affect policy. The biggest landlords are some of the most abusive and manipulative, and engage in much lobbying. Their collusion is part of why housing costs so much, and the government refusing to investigate it is due to their lobbying. Literal rentseeking lol, but yes I'm aware the word isn't usually so straightforward.

I like this definition:

Rentseeking is an economic concept that occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity.

[-] 018118055@sopuli.xyz 3 points 11 months ago

I like the definition too. Use of power to gain an advantage.

this post was submitted on 17 Sep 2023

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