Thursday, April 26, 2012

Software Patents and "Rent Seeking"

"Rent Seeking" is a term in economics used to denote the effort of those with "political" power, that is, the ability to leverage the violence of the state, to use that leverage for personal gain.

Inspired by the recent article on the subject, I'd like to give my own perspective on the issue.

While most of us think of "rent" only as paying one's landlord for the use of their property, this common use of the term is not as far from the more technical "economic" term as it seems at first. Let it stew for a while, see if it doesn't make sense.