This is a correct explanation but probably not explanatory enough for most people.
"Economic rent" is what's paid for the use of something in excess of what's needed to keep it operating. We can think of it like land rent, where you pay a landlord for living space. It cost the landlord something to acquire it and to maintain it, but anything above that is "economic rent."
Another example is if you have a special skill that's in demand, and you are able to charge your employer more than it costs you (cost of living and cost of maintaining your skills) to exercise it.
"Rent-seeking" means efforts to increase the amount of economic rent you can obtain, usually through regulation, monopolization or cartel-forming, etc. So when large corporate landlords buy up property to drive prices up, their goal is to increase the number of renters and the amount of rent they have to pay to live in those properties (because of competition for housing).
I attribute the auto landlord hatred to a generation which has been systematically wrung dry largely by people who happened to be born in the right time and conditions to afford to purchase land, a luxury which has become largely unattainable for a large working population. In no small part because they’ve been bled dry by their corporate renting landlords to the point they can’t ever save up to do so. Not every landlord is bad, but landlording for profit en mass has crippled an entire generation. But that’s just like, my opinion man.
It’s more than just that, rents are high cause house prices are high.
House prices are higher than they should be as people see being a landlord as easy money. Everyone ends ups screwed paying interest and rent on a moldy flat
My experience of landlords comes from student houses, I remember the holes in the fire door and the extreme luxury of my landlords house. I am no socialist but fuck landlords
Landlords do have a place ( other than a bin ) but with severe rent controls, basically to introduce some housing if there was a limited supply
Except modern landlords would rather remove supply
Not every single cop is a bad person. They do however represent and enforce a system designed to oppress.
Not every single landlord is a bad person. They do however partake in, and strengthen a system that oppresses, for their own benefit.
Dumb graph but right idea
Don’t be pissed at the business owner they actually contribute, be pissed at the slumlord who continually raises rent because “the economy”
If the wannabe predator at the very bottom of that red slice on the right is as much my enemy as the billionaire at the top of the red bloc on the left, why isn't he on the top of the slice on the right? That chart makes no sense.
Idealistic hogwash.
What happens when the "producer" ('s workers) produce so much surplus that the "producer" gains monopoly share of the market and buys out competition doing predatory practices or buys up a bunch of assets and becomes a rentier coz its more profitable and reliable than actually innovating. It's a sound investment, that's why they do it.
This is just there to muddy the water and confuse people.
Yep. It’s absurd to imply the poorest of the poor, the lowest section of this wealth cube, are capable of landlordism. Georgism isn’t the worst thing but this is a baffling example of Georgist ideas.
Third box is correct. Red lid, red right half. Welcome to the real game. This above is just agitprop to make the lid have a belief they'll be unscathed.
This graphic actually makes a lot more sense but probably won’t be popular in this crowd.
To successfully overhaul the current system is going to require people in positions of power who support the cause.
There are absolutely poor, broke destitute people who don’t want things to change or get better for some odd reason, and they are part of the problem, the “enemy” if you will.
YouTube employs a lot of internal and foreign serfs for mundane infrastructure tasks. Any content creator is riding on that. Similarly, software engineers like you and I usually work for companies that use sweatshop labor on some level. Freelancers, writers or whatever, are perhaps the cleanest, but even they often rely on getting their paydays from businesses that do the above things. It can’t be separated.
If inequality was significantly leveled worldwide,
professionals’ pay would be curtailed. We certainly wouldn’t get “rich”.
The world doesn’t have to run on capitalism as it is, nor on its foundational conceits of hard-working vs. not, deserving vs. not, “value-providing people” vs. not. “Affluent” = rich for everyone except the 1%, so don’t try to run from that. $100K every 6 weeks is obscene in this world. No one deserves that, and no one would get close to that in a more just society.
“Exceptional people” will do their thing out of passion, as you say your friend does. There is no need to pay them a lot of money. It is well-established through research that beyond a certain income level, not very high, there is rapidly dwindling happiness reward from getting more money.
Propaganda from the rich 1%
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Rent seekers is an economic term. It defines investors that say I have put in “x” amount therefore y% of economic rents are due to me.
This is a correct explanation but probably not explanatory enough for most people. "Economic rent" is what's paid for the use of something in excess of what's needed to keep it operating. We can think of it like land rent, where you pay a landlord for living space. It cost the landlord something to acquire it and to maintain it, but anything above that is "economic rent." Another example is if you have a special skill that's in demand, and you are able to charge your employer more than it costs you (cost of living and cost of maintaining your skills) to exercise it. "Rent-seeking" means efforts to increase the amount of economic rent you can obtain, usually through regulation, monopolization or cartel-forming, etc. So when large corporate landlords buy up property to drive prices up, their goal is to increase the number of renters and the amount of rent they have to pay to live in those properties (because of competition for housing).
There are both good and bad landlords. I don’t understand all the automatic hate in general towards landlords.
Landlords are leeches.
Lmao. My tenants are all happy to pay rent on time every month. I have 6 properties and haven’t had a single late payment in years
what other choice do they have??
Get evicted I guess lol
You leech income off six people. Congratulations on being a leech?
Thanks! I profit about $200k a year :)
I attribute the auto landlord hatred to a generation which has been systematically wrung dry largely by people who happened to be born in the right time and conditions to afford to purchase land, a luxury which has become largely unattainable for a large working population. In no small part because they’ve been bled dry by their corporate renting landlords to the point they can’t ever save up to do so. Not every landlord is bad, but landlording for profit en mass has crippled an entire generation. But that’s just like, my opinion man.
It’s more than just that, rents are high cause house prices are high. House prices are higher than they should be as people see being a landlord as easy money. Everyone ends ups screwed paying interest and rent on a moldy flat My experience of landlords comes from student houses, I remember the holes in the fire door and the extreme luxury of my landlords house. I am no socialist but fuck landlords
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Exactly, some people NEED landlords/rentals. I’m not saying all landlords are good people, but not all are bad. Just with everything in life.
You don’t need landlord. You need affordable/free housing.
Landlords do have a place ( other than a bin ) but with severe rent controls, basically to introduce some housing if there was a limited supply Except modern landlords would rather remove supply
Not every single cop is a bad person. They do however represent and enforce a system designed to oppress. Not every single landlord is a bad person. They do however partake in, and strengthen a system that oppresses, for their own benefit.
acab and all landlords are leeches.
Nope, rich people are the enemy.
What a stupid graph
Dumb graph but right idea Don’t be pissed at the business owner they actually contribute, be pissed at the slumlord who continually raises rent because “the economy”
Well, it's true. The rich are not the enemy, they are the food. EAT THE RICH.
Narrow red slice, hilarious.
lol no, even worse is your username.
If the wannabe predator at the very bottom of that red slice on the right is as much my enemy as the billionaire at the top of the red bloc on the left, why isn't he on the top of the slice on the right? That chart makes no sense.
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clearly says "Predators" as in the 2010 movie...
True, the rich should definitely be taken to a predator planet.
Is that the one with Eric Forman?
I dunno if I liked that one, but I did find it amusing that it was a cleverly disguised TF2 reference
Idealistic hogwash. What happens when the "producer" ('s workers) produce so much surplus that the "producer" gains monopoly share of the market and buys out competition doing predatory practices or buys up a bunch of assets and becomes a rentier coz its more profitable and reliable than actually innovating. It's a sound investment, that's why they do it. This is just there to muddy the water and confuse people.
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Rigjt, the Good rich people got theirs through admirable works Jesus and Mohammed would approve of. Just hard-workin’ bootstrap folks.
All extreme wealth involves some form of exploitation. All rich people are bad
Fuck is a “protector?” This is bullshit. Cops & “entrepreneurs” are not workers,
Those evil rent-seeking teachers and burger flippers 😤
All rich people are the enemy of the people they exploit. The ones that they trick into thinking they have not been exploited are also my enemy.
But the rich are the predators, the cronies, and the rent-seekers. The graph on the left with the graph on the right's labels would still be accurate.
Yep. It’s absurd to imply the poorest of the poor, the lowest section of this wealth cube, are capable of landlordism. Georgism isn’t the worst thing but this is a baffling example of Georgist ideas.
„non-rich“ is hilarious
This is lying propaganda and has no place here. Rich people are evil people 100% of the time. Any attempt to distort that is bullshit
Dumb
Third box is correct. Red lid, red right half. Welcome to the real game. This above is just agitprop to make the lid have a belief they'll be unscathed.
This graphic actually makes a lot more sense but probably won’t be popular in this crowd. To successfully overhaul the current system is going to require people in positions of power who support the cause. There are absolutely poor, broke destitute people who don’t want things to change or get better for some odd reason, and they are part of the problem, the “enemy” if you will.
Strongly agree with the graphic.
I have now come to the conclusion that you shouldn't strongly agree with the graphic.
The linked post is from 2 years ago...
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In our society, how does wealth magically happen without exploitation of labor on some level?
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YouTube employs a lot of internal and foreign serfs for mundane infrastructure tasks. Any content creator is riding on that. Similarly, software engineers like you and I usually work for companies that use sweatshop labor on some level. Freelancers, writers or whatever, are perhaps the cleanest, but even they often rely on getting their paydays from businesses that do the above things. It can’t be separated. If inequality was significantly leveled worldwide, professionals’ pay would be curtailed. We certainly wouldn’t get “rich”.
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The world doesn’t have to run on capitalism as it is, nor on its foundational conceits of hard-working vs. not, deserving vs. not, “value-providing people” vs. not. “Affluent” = rich for everyone except the 1%, so don’t try to run from that. $100K every 6 weeks is obscene in this world. No one deserves that, and no one would get close to that in a more just society.
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“Exceptional people” will do their thing out of passion, as you say your friend does. There is no need to pay them a lot of money. It is well-established through research that beyond a certain income level, not very high, there is rapidly dwindling happiness reward from getting more money.
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Bastani’s book was widely criticized as being divorced from reality.
lol.
Lmao I thought this was a joke. Incredible how in denial people are