In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents).
In economics, economic rent is any payment to an owner or factor of production in excess of the costs needed to bring that factor into production.
Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth.
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Economic rent is the "income" extracted by virtue of monopoly privilege. Pretty simple until you try to make up excuses to allow the idle aristocrats to fleece the common people. The current definition of "economic rent" seems to be an exercise in "neoconomics". -- The Trucker 02:03, 6 November 2005 (UTC)
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Dec 19, 2019 · In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents).
The farm work could be done by the landowner himself, the tenant of the landowner, or by hired farm workers. Rent as an economic category is regarded by Marx as one form of surplus value just like net interest income, net production taxes and industrial profits.
economic rent a money payment made for a FACTOR OF PRODUCTION that is over and above the minimum payment to keep it in its present use. This minimum payment is known as TRANSFER EARNINGS and it represents an OPPORTUNITY COST.
Income flow resulting from payments for restricted access to natural opportunities or for contrived privileges over geographic regions is termed economic rent. Georgists argue that economic rent of land, legal privileges, and natural monopolies should accrue to the community, rather than private owners. In economics, "land" is everything that exists in nature independent of human activity.
Aug 12, 2019 · Economic rent is an amount of money earned that exceeds that which is economically or socially necessary. This can occur, for example, when a buyer working to attain a good or service that is...
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