car and house Insurance both provide value by reducing the capital investment required to continue having an item, landlords reduce the upfront cost of housing by charging a continuous fee instead of a lump sum.
Rent seeking does create value: it provides a place to live. That is tangible value. There is no “one time labor” in this equation. The landlord continually pays taxes, insurance, maintenance, and other regular outgoings regardless of whether he bought the house outright or not.
There’s no Value created by risk, that’s an ad-hoc justification for profiting endlessly off of labor performed one time long ago.
car and house Insurance both provide value by reducing the capital investment required to continue having an item, landlords reduce the upfront cost of housing by charging a continuous fee instead of a lump sum.
Insurance is perhaps the peak of Financial Capital masquerading as Value.
what about banks?
Same problem, arguably far worse. Consider reading Imperialism, the Highest Stage of Capitalism. Banks play a huge part in the dominance of Financial Capital.
Rent seeking does create value: it provides a place to live. That is tangible value. There is no “one time labor” in this equation. The landlord continually pays taxes, insurance, maintenance, and other regular outgoings regardless of whether he bought the house outright or not.