Re: Smith: ground rents and land rents

>I am skeptical of just how helpful this is in enabling those who do
>not understand rent, to understand rent.

>If I may, rent is simply gain from sources other than those
>which can be commonly agreed on as "earned".


>But this is also problematic, as it requires a rigorous
>definition of "earned". We might define "earned" in terms
>of "rent".


>But that would be circular.

Indeed, the problem is that we can go back and forth all day on a
proper definition of "earned", and it's ultimately a subjective matter
as to degree.

IMO, you can't really begin to define rent without talking about
opportunity costs and barriers to entry.

.

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