Rising Tide Rents and Robber Baron Rents
O'Reilly
APRIL 23, 2024
As noted by economist Joseph Schumpeter , innovation—whether protected by patents, trade secrets, or just by moving faster and more capably than the competition—provides an opportunity to receive a disproportionate share of profits until the innovation is spread more widely. What Is Economic Rent? For example, consider drug pricing.
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