Comments by "Wandering Existence" (@WanderingExistence) on "The (Overdue) Collapse Of Short Term Rentals" video.

"The rent of land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give." — Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Book I, Chapter XI "Of the Rent of Land"
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@Elimbi1 Yep, it's called "rent seeking" and it means the landlord can extract a large amount of money for adding no value. Like how it's become a growing trend with airbnbs to charge a cleaning fee and then also request the guests to do their own cleaning- a charge for no value added.
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 @ChrMuslimThor Georgists Represent! Community land trusts are also an acceptable solution.
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@RavenMyBoat While I definitely tout the benefits of George's prescribed Land Value Tax, it's certainly not full the answer to our crisis of democracy. Political democracy can only be kept alive when there is economic to fund it; this means a cooperative economy. Cooperatives are run by and for members, and so they take care of their members better. Worker cooperatives also share profits so money is distributed more equally throughout society instead of having to be so heavily redistributed through government welfare and programs. Worker cooperatives don't want to sit around and wait for governments to raise the minimum wage they want to raise their own wages, and they often put a pay ratio cap in place. From worker co-ops to consumer and housing co-ops, they help people have a say in the institutions that govern their lives.
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@tiagodagostini It's not everything in the economy the example of software that you used is because of intellectual property, which the whole goal of IP is to give somebody a legal monopoly over an idea and that's why monopolistic rents on software are charged. But yes, IP does inflate profits for corporations by creating imperfect or monopolistic markets. Open source/ use software doesn't have the same issue.
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DoorDash got people thinking they're entrepreneurs, when they're just 1040 wage slaves.
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@tiagodagostini I don't think you understand what 'economic rent-seeking' is, not all profit is based on rent seeking behavior. Rent seeking surplus is not from adding value but just gate keeping (like IP is a legal way to gate keep ideas) it is usually derived from an economic market with an inelastic supply curve or an inelastic demand curve (IP creates a supply curve controlled by the IP owner). Profit/ surplus is not the same as rent seeking. Both Apple and Google rent seek with their software and app store, the fact that they can take 30% and over is definitely rent seeking- a common feudal mill would only take 1/7, not 1/3. I encourage you to look at other academic sources better get a sense of the difference between normal profits and rent seeking.
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It gets worse, you are commodified and rent by the hour for a 'wage'. Capitalism is dehumanizing.
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@dave7244 Private property is theft!
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