- 20 Sep 2017 16:22
#14844985
Who said it was?
That it could be is just some absurd strawman you have made up. What you call rent on money is actually rent on bank licenses, which empower private banks to issue money in order to charge interest on it. Unlike owning land, OWNING money does not enable any rent collection, ISSUING money does.
Derivatives are negative-sum gambling, not rent seeking.
That's just flat false. Google "Law of Rent" and start reading. Wages are determined by the productivity of labor on marginal land. Everything above that is taken by the landowner in rent. Better yet, read "Progress and Poverty," and at least minimally inform yourself on the subject of how landowner rent collection causes unemployment. Hint: wealth taken and consumed by landowners in return for no contribution to production is wealth that is not available to pay workers for producing.
GET IT???
quetzalcoatl wrote:They are guilty of taking some kernel of truth that, properly limited, might have a explanatory power in a particular set of circumstances, and then trying to make it a universal theory. It clearly is not.
Who said it was?
Rent on money cannot be derived from rent on land.
That it could be is just some absurd strawman you have made up. What you call rent on money is actually rent on bank licenses, which empower private banks to issue money in order to charge interest on it. Unlike owning land, OWNING money does not enable any rent collection, ISSUING money does.
We even have rent on rent on money (in the form of derivatives, a multi-billion dollar market).
Derivatives are negative-sum gambling, not rent seeking.
Even if they could make these equivalencies stick, rent on land has no explanatory power over wages and unemployment, the factors that most affect people.
That's just flat false. Google "Law of Rent" and start reading. Wages are determined by the productivity of labor on marginal land. Everything above that is taken by the landowner in rent. Better yet, read "Progress and Poverty," and at least minimally inform yourself on the subject of how landowner rent collection causes unemployment. Hint: wealth taken and consumed by landowners in return for no contribution to production is wealth that is not available to pay workers for producing.
GET IT???