Comment on No one really understands our struggle
ComradeSpood@lemmyunchained.net 10 months ago
Even the father of caputalusm thought landlords were parasites that only leeched off the economy
Comment on No one really understands our struggle
ComradeSpood@lemmyunchained.net 10 months ago
Even the father of caputalusm thought landlords were parasites that only leeched off the economy
SCB@lemmy.world 10 months ago
Adam Smith justifies the existence of rent as improvement in the value of land.
adamsmithworks.org/…/chapter-xi-of-the-rent-of-la…
Perhaps you’re misunderstanding the term ‘rent-seeking’ which is a different concept entitely
MyNameIsIgglePiggle@sh.itjust.works 10 months ago
I read through until chapter 1 in that section you linked and he is pretty scathing of landlords and if I understand it correctly his argument is that landlords exist solely to soak up all extra profits above what would leave the tenant just enough to survive.
SCB@lemmy.world 10 months ago
I’d strongly recommend you consider reading the entire thing, because that is not his take at all.
Consider at his time, “landlord” literally meant a lord who owned land, and much of the rent he discussed (often negatively) is shit like, charging people to harvest kelp near your house.
Cruxifux@lemmy.world 10 months ago
I don’t understand why you’re getting downvoted. You’re right.
MyNameIsIgglePiggle@sh.itjust.works 10 months ago
Fair. I was thinking today he seemed more to be referring to crops