One of the mysteries of the English language finally explained.
The extra amount earned by a resource (e.g. land, capital, or labour) by virtue of its present use.
- ‘As seller it collects the economic rents inherent in the resource.’
- ‘In this case, each fisher does not earn the economic rent that would reflect the scarcity value of the fish to society.’
- ‘Taxing the economic rent of natural resources induces users to make optimal use of environmental resources.’
- ‘For instance, if the two approaches were to overlap, the purchase of development rights would tend to undercut land value taxation as a revenue source because the economic rents would be largely removed.’
- ‘They obtain economic rents at the expense of taxpayers and consumers who are unorganized, uninformed, and paying costs that are not well defined or conspicuous.’
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