It Could Happen Here Weekly 94
Behind the Bastards
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The Neoclassical Economy of Rent
Corineal argues that there's basically two ways of thinking about rent in terms of a commodity like oil. There is a macroeconomics view in which the rent someone who owns oil extracts when people have to buy it from them. And so for these people, rent isn't something that's extracted at all, right? It's just someone getting paid for their capital.
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