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Old 12-18-2012, 03:50 AM   #1
BEAST Griffin
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Default Say No To Rent Seeking

Rent seeking means attempting to get a bigger piece of the already existing wealth pie rather than helping to make the wealth pie bigger. And fact is, that is how most rich people get their money, all through government entitlements. Land owning is by far the biggest rent seeking activity.

Your home work for the next few days will be to read up on 'Ricardo's Law of Rent', 'Henry George Theorem', and 'Rent Seeking'.

Last edited by BEAST Griffin : 12-18-2012 at 03:53 AM.
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Old 12-21-2012, 02:47 AM   #2
BEAST Griffin
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Default Re: Say No To Rent Seeking

http://www.econlib.org/library/YPDBo...#firstpage-bar

Quote:
It is true that all valuable things have the quality of enabling their owner to obtain labor or the produce of labor in return for them or for their use. But with things that are themselves the produce of labor such transactions involve an exchange—the giving of an equivalent of labor-produce in return for labor or its produce. Land, however, is not the produce of labor; it existed before man was, and, therefore, when the ownership of land can command labor or the products of labor, the transaction, though in form it may be an exchange, is in reality an appropriation. The power which the ownership of valuable land gives, is that of getting human service without giving human service, a power essentially the same as that power of appropriation which resides in the ownership of slaves. It is not a power of exchange, but a power of blackmail, such as would be asserted were some men compelled to pay other men for the use of the ocean, the air or the sunlight.

Henry George.
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Old 12-21-2012, 07:36 AM   #3
kNIOKAS
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Default Re: Say No To Rent Seeking

I thought that. But the way it's set up at the moment in my country, I'd could buy a house if I'm paying off a loan for twenty years. That's the commitment nobody wants to make.
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Old 12-21-2012, 07:55 AM   #4
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Default Re: Say No To Rent Seeking

OP did you just start economics/business?
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Old 12-21-2012, 07:57 AM   #5
Nick Young
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Default Re: Say No To Rent Seeking

Successful people shouldn't be punished for being successful.

Poor people shouldn't get rewarded and free benefits paid for by successful people simply because they suck at life and don't know how to be successful themselves.

It is a myth that you need expensive institutionalized education to be successful. Most of the richest people in the world are drop outs or had no university education.

Meanwhile the world is flooded with university graduates working for people with less education than they have.

Or people with degrees in architecture or civil engineering who can't get work in their field of study and have to drive taxis.


Get your Henry George native-american logic mystical hoodoo bullshit out of here.

People who don't know how to get wealthy and stay that way are not entitled to free rides.
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Old 12-21-2012, 08:15 AM   #6
MMM
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by Nick Young
Successful people shouldn't be punished for being successful.

Poor people shouldn't get rewarded and free benefits paid for by successful people simply because they suck at life and don't know how to be successful themselves.

It is a myth that you need expensive institutionalized education to be successful. Most of the richest people in the world are drop outs or had no university education.

Meanwhile the world is flooded with university graduates working for people with less education than they have.

Or people with degrees in architecture or civil engineering who can't get work in their field of study and have to drive taxis.


Get your Henry George native-american logic mystical hoodoo bullshit out of here.

People who don't know how to get wealthy and stay that way are not entitled to free rides.

Poor people are not given free rides relatively speaking. It is the wealthy that benefit from free rides with examples of corporate welfare, bailout packages, and stimulus packages.
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Old 12-21-2012, 08:24 AM   #7
embersyc
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Default Re: Say No To Rent Seeking

I went from being a renter to a buyer 1 year ago, and let me tell you there were actually a number of advantages to renting (such as no property tax or repair bills, freedom to move as needed, etc...). I'm thinking of selling my house and renting again honestly.

I agree in principal that property ownership is theft, but unfortunately I also require a comfortable place to live.
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Old 12-21-2012, 08:25 AM   #8
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by MMM
Poor people are not given free rides relatively speaking. It is the wealthy that benefit from free rides with examples of corporate welfare, bailout packages, and stimulus packages.
If anyone is entitled to a free ride, it is the people who earned the billions of dollars in the first place by creating business and creating jobs.
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Old 12-21-2012, 08:32 AM   #9
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by Nick Young
If anyone is entitled to a free ride, it is the people who earned the billions of dollars in the first place by creating business and creating jobs.

except free rides don't create business and jobs; Corporations exist to create profits not jobs
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Old 12-21-2012, 09:47 AM   #10
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by MMM
except free rides don't create business and jobs; Corporations exist to create profits not jobs
there is something wrong with making a profit now? People shouldn't try to succeed? Everything should be non-profit charity wonderland?

Corporations create jobs for other people, their goal is to generate profit for themselves. Is this supposed to be considered evil and wrong?
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Old 12-21-2012, 03:30 PM   #11
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by Nick Young
there is something wrong with making a profit now? People shouldn't try to succeed? Everything should be non-profit charity wonderland?

Corporations create jobs for other people, their goal is to generate profit for themselves. Is this supposed to be considered evil and wrong?

I didn't say it was evil or wrong just that these handouts don't necessarily create jobs as you implied, not all profit is created equally.
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Old 12-21-2012, 03:41 PM   #12
The Real JW
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by plowking
OP did you just start economics/business?
He just can't afford his rent and is a little mad about the entire concept.
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Old 12-21-2012, 07:12 PM   #13
KevinNYC
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by embersyc
I went from being a renter to a buyer 1 year ago, and let me tell you there were actually a number of advantages to renting (such as no property tax or repair bills, freedom to move as needed, etc...). I'm thinking of selling my house and renting again honestly.

I agree in principal that property ownership is theft, but unfortunately I also require a comfortable place to live.

In this case rent seeking is about a larger concept than real estate.
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Old 12-21-2012, 11:29 PM   #14
MetsPackers
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Default Re: Say No To Rent Seeking

Quote:
Originally Posted by Nick Young
Successful people shouldn't be punished for being successful.

Poor people shouldn't get rewarded and free benefits paid for by successful people simply because they suck at life and don't know how to be successful themselves.

It is a myth that you need expensive institutionalized education to be successful. Most of the richest people in the world are drop outs or had no university education.

Meanwhile the world is flooded with university graduates working for people with less education than they have.

Or people with degrees in architecture or civil engineering who can't get work in their field of study and have to drive taxis.


Get your Henry George native-american logic mystical hoodoo bullshit out of here.

People who don't know how to get wealthy and stay that way are not entitled to free rides.

This post is nothing but complete ignorance

People born into poverty chose to be poor?

There is not one single victim of circumstance on the entire planet?

You're insensitivety is disgusting and you obviously lack the perspective to view the world through some of these people's shoes

And good to see the boy who cried racism spewing some more stereotypes as usual - go comb back your jewfro again and go pray in your tent in the backyard; don't forget your hat
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