Yup. To add to this, even classical economists saw landlordism as predatory, not-value-producing behavior, and labeled it as rent-seeking or absentee ownership, the latter a term anyone can easily understand.
Adam smith gave a really simple definition for what constitutes producing value (he was interested in how nations build wealth), which amounts to two conditions:
The work must create a vendible commodity.
The work must be paid out of capital, not revenue.
Landlording and a lot of industries that seem to be value-producing simply because they make money, actually don’t produce any new value and merely transfer it around.
Another way of putting it, is only labor can create value, and landlording requires no labor. Landlords make that money while they sleep and play golf, stealing the real value from their renters paychecks.
@DashRendar@lemmygrad.ml has an excellent summary of how all private property / absentee ownership is parasitic here.
Yup. To add to this, even classical economists saw landlordism as predatory, not-value-producing behavior, and labeled it as rent-seeking or absentee ownership, the latter a term anyone can easily understand.
Adam smith gave a really simple definition for what constitutes producing value (he was interested in how nations build wealth), which amounts to two conditions:
Landlording and a lot of industries that seem to be value-producing simply because they make money, actually don’t produce any new value and merely transfer it around.
Another way of putting it, is only labor can create value, and landlording requires no labor. Landlords make that money while they sleep and play golf, stealing the real value from their renters paychecks.
@DashRendar@lemmygrad.ml has an excellent summary of how all private property / absentee ownership is parasitic here.