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10 sats \ 4 replies \ @arrivederci 16 Mar \ on: America's middle class is collapsing (because they get richer not poorer) charts_and_numbers
Income is the wrong way to look at this. You're missing the truly rich if you're only looking at income.
Since the late 60s there has been a massive increase in wealthy rent-seekers, i.e. ppl who haven't got wealthy from actually working, either in a job or profession or by creating a business but by extracting rent from (leveraged) assets.
Private equity?
Carried interest?
Capital gains?
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Sorry b_c, I'm not really sure what you're saying or asking here
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What are examples of extracting rent?
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Yeah, I wouldn't point the finger at any of the things you mentioned. None of them intrinsically qualify as 'rent-seeking'.
It's more the whole system has changed to reward rent-seeking. So you can be rewarded for owning shares in rent-seeking companies, you can be rewarded with capital gains in a housing market where everything is done to prevent the house market undergoing corrections, etc. etc. Nothing wrong with owning shares or getting capital gains on a house, per se.
Edit : that hasn't answered your second comment on what are actual examples of extracting rent, sorry. Bit too tired now to give a proper answer to that one.
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