Comment on No one really understands our struggle
SCB@lemmy.world 1 year agoAdam 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 1 year 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 1 year 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 1 year ago
I don’t understand why you’re getting downvoted. You’re right.
SCB@lemmy.world 1 year ago
Being right is its own reward.
CileTheSane@lemmy.ca 1 year ago
Probably because he’s not actually presenting an argument, and is instead expecting people to read a 57 310 word essay. Oh, and if you read all of that and still disagree? “You must have misunderstood, read it again.”
MyNameIsIgglePiggle@sh.itjust.works 1 year ago
Fair. I was thinking today he seemed more to be referring to crops
SCB@lemmy.world 1 year ago
Fun fact: all unions are inherently rent-seeking.
I say this as a supporter of unions - true is true. Rent seeking is inherently bad but the sum of the union equation is that they do more good than bad.