Title: What is rent? Definition and some examples - Market Business News
Headings: What is rent? Definition and meaning
What is rent? Definition and meaning
Economic rent – another example
What is land?
Two farmers
What is rent-seeking
Closed-shop systems
The wealth pie does not grow
Government corruption and rent-seeking
Video – What is economic rent?

Content: It becomes richer, but the taxpayer has to pay for it. If you are CEO of a company and you succeed in obtaining subsidies or getting legislation passed that restricts competition and makes it harder for newcomers to enter the market – barriers to entry – you have managed to increase your share of existing wealth without increasing the size of that total wealth; you have been rent-seeking. Moreover, you have earned income without actually creating or producing anything at all. You have not put any of your capital at risk either. Closed-shop systems
In any environment where a closed-shop system exists, so does rent-seeking. There are cases when requiring a license makes sense. Doctors and airline pilots, for example, should not practice without their licenses for obvious reasons. However, what if you want to work as a florist, packer, taxi driver, or docker? What if you need an onerous license then?