bogus comments on Open thread, Oct. 13 - Oct. 19, 2014 - Less Wrong

5 Post author: MrMind 13 October 2014 08:17AM

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Comment author: bogus 06 November 2014 02:52:10AM *  1 point [-]

So is real-estate rent-seeking? How is it different from domain sharking?

Ever wondered where the 'rent' in rent-seeking came from? Yup, land ownership is pretty much the TropeNamer of rent seeking. Of course, land is quite special in that land-scarcity (and thus, land rent) is unavoidable, even under the most relaxed zoning rules. Still, the basic feature distinguishing unearned rent from earned returns is there: land rent goes to a private landowner, not to the surrounding society and general public that actually gave land its high value.