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Private property in the means of production is the central element of capitalism criticized by socialists. In Marxist literature, private property refers to a social relationship in which the property owner takes possession of anything that another person or group produces with that property and capitalism depends on private property. [19]
"Rent-seeking" is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth.
In Cook County, which includes Chicago and its suburbs, property taxes are due twice a year. Taxes not paid by the first due date in March are considered "delinquent," and interest begins to accrue.
Marxists argue that private property is a social relationship between the owner and persons deprived, i.e. not a relationship between person and thing. Private property may include artifacts, factories, mines, dams, infrastructure, natural vegetation, mountains, deserts, and seas –these generate capital for the owner without the owner ...
Renting versus buying a home isn’t just a matter of ownership. It can be a lifestyle choice as much as a financial one: Renting means you’re not tied down with any long-term responsibilities.
It’s cheaper to rent than to buy in all of the top 50 metros. The typical monthly mortgage payment of a median-priced home ($412,778, per Redfin) in the U.S. is $2,703, while the national ...
Rentier capitalism is a concept in Marxist and heterodox economics to refer to rent-seeking and exploitation by companies in capitalist systems. [1] [2] [3] The term was developed by Austrian social geographer Hans Bobek [4] describing an economic system that was widespread in antiquity and still widespread in the Middle East, where productive investments are largely lacking and the highest ...
There is some debate about the question of private property and economic organization which is mainly caused by the meaning of private property. Social anarchists claim that the existence of private property (productive property) results in wage slavery while certain anti-capitalist individualist anarchists and mutualists argue for private ...