I would like to point out for people talking about "rent-seeking" that labor unions, under the classical econ definition, are one of the biggest examples of "rent-seeking" entities, and wages being higher than their "efficient" level is defined as "rent"
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Steinbeck's definition of a "Red" from The Grapes of Wrath ("Any son of a bitch who wants ten cents when we said we're only paying five") is also the textbook definition of rent-seeking, getting paid more than a totally "free" market would pay you
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And, like the dude in Grapes of Wrath says, fine, then I'm a rent-seeker, you're a rent-seeker, everyone's a rent-seeker Who the hell doesn't want to get paid more than the market will bear
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Hello Arthur, We see that you're mixing modernist philosophies . And while we see the allure of buying into their pretense to impartial and scientific basis, it is never a good idea. Regards, Customer Support
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Cool, you might want to contact the people with malfunctioning praxis who think people *shouldn't* have to be paid for their labor.
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I think I have ignorantly been equating rent-seeking with exploitation, and I am grateful for the clarification.
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