Re: Smith: ground rents and land rents

ruetheday@xxxxxxxxxx wrote: 
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.


It may have an element of subjectivity, but it has to be inernally
consistent to be very useful.

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


I'm not sure those aren't more useful to people *justifying*
property. I've used them that way.

--
Les Cargill
.

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