• SCB@lemmy.world
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    1 year ago

    Landlords aren’t necessarily rent-seekers (though some individuals conceivable could be) as economists use the term, and your lack of understanding of economic rent-seeking is something you can fix.

    Rent-seeking is a concept in economics that states that an individual or an entity seeks to increase their own wealth without creating any benefits or wealth to the society. Rent-seeking activities aim to obtain financial gains and benefits through the manipulation of the distribution of economic resource

    Providing a home is a benefit to the society.

    Credit processors (what you’re calling “banks”) provide a service to merchants. They are also not rent-seeking.