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Rent
In classical economics rent was the return to an "owner" of land. In latereconomic theory this term is expanded as economic rent to include other forms of
unearned income typically realized from barriers to entry. Land ownership is considered to be
a barrier to entry because land owners make no contribution to the production process. They simply
prevent others from using that which would otherwise be useful.
"Rent is that portion of the produce of the earth, which is paid to the
landlord for the use of the original and indestructible powers of the
soil. It is often, however, confounded with the interest and profit of
capital, and, in popular language, the term is applied to whatever is
annually paid by a farmer to his landlord. -- Ricardo
