>>70877
>Rent is simply providing a commodity like any other
Rent is simply protection money under a different name, i.e. money you pay to prevent the other person from using violence against you. This isn't even an ideological definition, the only reason a person has to pay rent in excess of the costs of upkeep is so the landlord doesn't evict them.
>Without that incentive to profit to mitigate the risk in developing that commodity
Where is the risk or development in land speculation or renting land to 3rd world peasants?
>then that commodity would not have been provided
The question is whether whatever service the landlord provides can be done without him.
>If you are putting in excess labor, than there must be a temporary supply-demand imbalance, which would signal the market to provide more lodging and lower rents (unless restricted by zoning, rent controls, etc.).
I must be putting in excess labor or the landlord couldn't ever possibly make a profit, whether short-term in perspective of the costs and his labor, or long-term in perspective of the capital they've invested.
>The market is not centrally planned and does not require unlimited information
Planning doesn't necessarily mean central planning, which doesn't require unlimited information either. Just because the market gets by with limited information doesn't mean that's a good thing.
>You cannot maximize profits without efficient management of resources
It's insane to think that the current usage of resources is efficient. 40% of food isn't thrown away because its an efficient use of resources, it's because it's an efficient for the means of gaining profits with limited information.
>Most of those in the wealthiest 20% income cohort started in the lowest income cohort when they were young
The 80th percentile of income earners is only about $117,000 from 2 income earners. That's really good money but it's from 2 people and it's only temporary, whereas saving enough to start a business obviously requires years. Additionally, that link doesn't mention where they started from.
>It is the capitalists that provide the capital
Yes, the trees, which they own, that is their entire role in the situation.
>take the risk of venture that produced the rod
This is a complete myth. If anything risk is inversely proportional to profit under Capitalism. Here's a good quote:
>Indeed, it would be fairer to say that return is inversely proportional to the amount of risk a person faces. The most obvious example is that of a worker who wants to be their own boss and sets up their own business. That is a genuine risk, as they are risking their savings and are willing to go into debt. Compare this to a billionaire investor with millions of shares in hundreds of companies. While the former struggles to make a living, the latter gets a large regular flow of income without raising a finger. In terms of risk, the investor is wealthy enough to have spread their money so far that, in practical terms, there is none. Who has the larger income?
>Not against competitors employing the aame tactics. In the end, you must employ some kind of market survey and product testing.
To an extent, but $200b is still put into advertising every year for a very good reason.
>By incorporating with other investors, he does diminish the risk, but also diminishes his share of the profit.
Whereas for the investors they get a substantial amount of the profits for very little risk, therefor proving that risk is not correlated with profits.
>Loggers are well paid when you take into consideration the purchasing power
I was referring to tree-trimmers, who usually make about $33,000 a year while probably having the most dangerous job in the US. Look at the OSHA fatcat report by far the most common fatalities involve tree-trimming. Again, this is the greatest risk a person could make, yet it puts them in the 28th percentile.
>factors besides risk that affect wealth.
And those factors are the ones which actually determine wealth, not risk. Especially considering unsuccessful risks aren't paid at all.
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