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Viliam comments on Publishing my initial model for hypercapitalism - Less Wrong
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Wikipedia has an article on "economic rent", so it probably is an existing term, although I have never heard it before.
Seems like "rent" is an income from a (generally) limited resource, while "economic rent" is an extra income from a resource that (locally, temporarily) acts like a limited resource.
Just like apples are generally not a limited resource, but if you need an apple, and your time is limited, and there is only one shop on your way, and it contains a limited amount of apples... then those apples here and now behave like a limited resource.
Yes, exactly. Most economic theory assumes 'in the moment' and a bit of God like reach. In the real world we have to deal with time and space.
For most of us working stiffs, when we go to the store to buy milk we are charged an large amount of economic rent to buy it cold, in a container, near our home. Despite the fact that you really need to drive an hour or more to find a cow. Given infinite time and teleportation, we'd hit the farm and get it for much, much less. You only have to look to digital assets to see how this plays out. This isn't a bad thing. We want the farmer, the pasteurizer, the delivery man and the grocery store to stay in business, but we also want them to do it better, faster, cheaper next time. General market dynamics cause this to happen a rate. I want it to happen at a faster rate.