Oh...and I think economic rent is a fairly standard term. This is the amount that people pay for a thing above its cost because of a disadvantage they are under. Some economic rent is good, some is bad. You can argue that it is 'value' though if someone is willing to pay it. If they weren't getting that value out of it they wouldn't pay it.
This is the amount that people pay for a thing above its cost because of a disadvantage they are under.
Not quite. The difference between the price the buyer pays and the cost of the good to the seller is the seller's profit which is not the same thing as rent. To call something "rent" implies that the seller controls some limited resource that cannot be easily reproduced or acquired by his competition.
I posted a stupid question a couple of weeks ago and got some good feedback.
@ChristianKl suggested that I start building a model of hypercapitalism for people to play with. I have the first one ready! It isn't quite to the point where people can start submitting bots to play in the economy, but I think it shows that the idea is worth more thought.
Analysis:
http://www.hypercapital.info/news/2015/4/19/a-published-model-of-hypercapitalism
Runnable Code - fork it and mess around with it:
http://runnable.com/VTBkszswv6lIdEFR/hypercapitalism-sample-economy-for-node-js-and-hello-world
I'd love some more feedback and opinions.
A couple of other things for context:
hypercapital.info - all about hypercapitalism
Overcoming bias about our money
Information Theory and the Economy