News for hackers. Stuff that matters.
Re:Challenging the myth that the rich are specially-talented... by maxerickson on Sunday May 29, 2016 @12:57PM (#11797062)
Rent seeking is jargon. It doesn't refer to running a business.

https://en.wikipedia.org/wiki/Rent-seeking

https://en.wikipedia.org/wiki/Economic_rent

It refers to the economic consequences of things like regulatory capture and corruption.

Re:Challenging the myth that the rich are specially-talented... by force_reboot on Sunday May 29, 2016 @01:13PM (#11797139)
You are are applying the standard definition of rent/rent seeking used by economists. But MichaelBurge's post is using the language of the original article, which claims that renting out an apartment, or making capital gains from a business, "rent seeking".

So MichaelBurge is making a valid critique of the original article, whether or not the article was correct in using the term "rent seeking"

Re:Challenging the myth that the rich are specially-talented... by aoeusnth1 on Sunday May 29, 2016 @01:10PM (#11797121)
The original article is naively expanding the definition to include simply "owning things which are worth money/time", i.e. the time value of money is somehow rent-seeking corruption.