economic rent


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economic rent

  1. payments (in money or in kind) made to the owner or controller of property for its use. Historically, in preindustrial societies, rent paid and received for LAND has been of major importance, e.g. under the FEUDAL MODE OF PRODUCTION. In MARXIAN ECONOMICS, with reference to situations where rent for land is levied in a context in which market relations exist, two main forms of rent are recognized:
    1. absolute rent, the basic level of rent; and
    2. differential rent, the extra rent obtained from land of higher than average productivity (not including any return on additional CAPITAL invested in improving the land).

    Debate has existed (e.g. Hindess and Hirst, 1975) as to whether taxes on peasant production levied by the state constitute a fundamentally different MODE OF PRODUCTION (see also ASIATIC MODE OF PRODUCTION) from the forms of rent' that emerged in Western Europe, or whether the ‘tax-rent’ couple constitute a single mode of production. For some Marxists, the attraction of the latter view is that the idea of a single developmental sequence of modes of production can be preserved.

  2. (ECONOMICS) rent or quasi-rent, any payment, or part payment, made for a FACTOR OF PRODUCTION, including human labour, which derives from an absolute shortage of supply (e.g. the fixed supply of land, inherent limitations in the supply of ‘talent’, outstanding musical or sporting abilities). Compare FUNCTIONALIST THEORY OF SOCIAL STRATIFICATION.

economic rent

That rent on a property which is sufficient to pay all costs of operation, maintenance, and payment of mortgages (but not utilities and services).
References in periodicals archive ?
With a competitive world market, the economic rent accruing to the owners of the resource had a 1996 present value on the order of $15-20 trillion (see Table 2).
JMR's appraiser used actual rent as economic rent for the apartment units.
Ensuring contract catering professional soldiers and employees of the Ministry of Defence - members of the ECS 8116 TrencE[degrees]n and Central Military Hospital SNP Ruzomberok clinic for TrencE[degrees]n, catering facilities in 8116 HL TrencE[degrees]n form of economic rent Military catering facilities ECS 8116 TrencE[degrees]n - 8 000 EUR,
This enables the restaurant to pay lower wages to the busboys and is a way of extracting some of the economic rent from the waiters.
Because of the panel structure used in the Housing sample, the current economic rents for sampled, renter-occupied units within a segment, weighted by the renter weight, are divided by the previous (T-6) economic rents for sampled, renter-occupied units within a segment, weighted by the renter weight.
The example of interracial marriage links psychic rent seeking with pure economic rent seeking.
The creation and capture of economic rent in all its sundry forms (pecuniary and nonpecuniary, tangible and intangible) are the entrepreneurial individual's sole objectives not only in business enterprise, but in all aspects of life.
1: All-day dining Contracting professional soldiers and employees of the Ministry of Defence of the Slovak Republic of IC 1115 Ruzomberok catering facilities ECS 1115 Ruzomberok form of economic rent catering equipment ECS 1115 Ruzomberok.
Part F Reforming the Slots System: Extraction of economic rent under various airport slot allocation approaches, Kenneth Button;
daytime contract catering professional soldiers and employees of the ministry of defence of the slovak republic pre ov ic 6335, ic 1037 martin, ic 2215 and ic 3030 pre ov elected in 6335 catering facilities ecs precise form of economic rent catering equipment ecs 6335 pre ov.
His diverse engagements include evaluating the economic rent from hydro-electricity to the Canadian economy, measuring the effect of restrictions to competition in the health sector on drug prices, and developing a methodology to evaluate the price of desktop software.
Contract award: catering staff in the form of economic rent kitchen mprv sr

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