05-10-2022, 06:55 PM
This happens when economic rents become the measure of economic success. Property rent is one form of economic rent -- that if it has a huge load of profit, the unusual profit is economic rent. (This is not to be confused with rentals. If you are renting video discs instead of buying video discs, then you have a rental expense instead of a tangible purchase. Another example of economic rent is that someone makes far more in income than is necessary to keep him formally employed where he is. Much of the income of Mike Trout is economic rent. What would happen if he were to find that Major League Baseball would disappear? He would do something else for much less).
Example of economic rent: software engineers in Silicon Valley are paying exorbitant rents for less-than-extraordinary housing. With property rents that high, you can just imagine what that does to such people as schoolteachers, barbers, and vehicle repairmen that communities need.
Example of economic rent: software engineers in Silicon Valley are paying exorbitant rents for less-than-extraordinary housing. With property rents that high, you can just imagine what that does to such people as schoolteachers, barbers, and vehicle repairmen that communities need.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.