Economic rent

In economics, economic rent is any payment in a context of the market transaction to an owner or factor of production in excess of the costs needed to bring that element into production. In classical economics, economic rent is any payment filed including imputed usefulness or improvement received for non-produced inputs such(a) as location land together with for assets formed by devloping official privilege over natural opportunities e.g., patents. In the moral economy of neoclassical economics, economic rent includes income gained by labor or state beneficiaries of other "contrived" assuming the market is natural, as alive as does not come approximately by state and social contrivance exclusivity, such(a) as labor guilds and unofficial corruption.

Neoclassical Paretian rent

Neoclassical economics extends the concept of rent to add factors other than natural resource rents.

The labeling of this report of rent as "Paretian" may be a misnomer in that Vilfredo Pareto, the economist for whom this style of rent was named, may or may not work proffered any conceptual formulation of rent.