Nature of Competition: Basics of Rental Market
There are two broad categories of “the market.” The one is to trade the title of the product or the asset. The second category is the market for rental right of space or creative powers . H erein we are interested in the second. We call the right holder the renter and the title holder the lender . What to rent. First, we need space whatever we are to do; residing, staying, idling, leisuring, travelling, consuming, creating, trading and the like. Second, we need the human power, also mistakenly called “labor” ( L ), in the process of creation. Third, we in creation additionally need physical powers out of “ physical capital ” ( K ) or “land” ( N ). Again, we with “creation” ( Y for GDP per annum, for instance) mean production of goods and services ( C for consumption) and construction of new assets ( I for investment). While the powers are running for the renter, needless to say, ...