>From the Wikipedia article on economic rent <https://en.wikipedia.org/wiki/Economic_rent>:
By contrast, in production theory <https://en.wikipedia.org/wiki/Production_theory>, if there is no exclusivity and there is perfect competition <https://en.wikipedia.org/wiki/Perfect_competition>, there are no economic rents, as competition drives prices down to their floor.[1] <https://en.wikipedia.org/wiki/Economic_rent#cite_note-1>[2] <https://en.wikipedia.org/wiki/Economic_rent#cite_note-2> My favorite example of economic rent is the income enjoyed by Microsoft due to the network effect aka network externality of people needing to buy their operating systems and people needing to target software development of applications to their operating systems. On Sun, Sep 7, 2014 at 12:43 PM, Eric Walker <[email protected]> wrote: > On Sun, Sep 7, 2014 at 8:25 AM, H Veeder <[email protected]> wrote: > > Btw, I don't think "rent seeking" is inherently bad. Everyone should be >> entitled to collect rent rather than be forced into wage labor and a basic >> income would give everybody a form of rental income. >> > > I think "rent seeking" is economic-speak for predation. I've never seen > it used in a positive context. I'm guessing economists would not consider > normal "rent" bad at all; it's no doubt considered payment for a legitimate > service provided the landlord. > > Eric > >
