economic rent

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Related to Scarcity rent: Rent seeking

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 ?
The only differences involve distributional effects, such as who gets the scarcity rents.
Consumers are really paying the higher price P', so they lose consumer surplus 2 + 3 + 4, and nobody gets the scarcity rents.
In essence, it would be a scarcity rent recycling system whose underlying formula is: from each according to his use of scarce sky, to each according to his equal ownership.
Revenue from atmospheric scarcity rent, if it's efficiently captured and recycled, could exceed $1 trillion over the next 15 years--more than the Clinton and Kerrey plans combined.
1]), it follows that along that path the optimal scarcity rent will also remain constant if and only if [sigma](x0 is constant and equal unity.
1]x from (17a) into (7) yields the optimal stationary value of the scarcity rent as [lambda] = [alpha][a.
The following sections consider interactions with other taxes and the issue of scarcity rents.
If they simply restrict emissions, then they create scarcity rents that must be covered by a higher price of output.
Most fundamentally, with such choice, broadcasters will be competing more vigorously for viewers (and advertising revenues), including with foreign services, and scarcity rents associated with the over-the-air technology will be dissipated* This leaves less room for broadcasters to cross-subsidize less lucrative Canadian programming with rents from more lucrative programming.
In the 500-channel world, broadcasters face intense competition and have fewer scarcity rents to divert to Canadian programming.
Metcalf "Environmental Controls, Scarcity Rents, and Pre-Existing Distortions, "NBER Working Paper No.