By pure* rent, I mean "profit based purely on ownership, rather than productive work".
Examples of such:
1) One is granted land, which one collects rent from, but does no management work for.
2) Collecting royalties from a work created by your now deceased father.
3) Benefiting from a trust which you do not manage or grow.
4) Collecting unearned income from government favorable treatment.
* "pure" could be read as some high percentage of the income comes from rent, rather than the individual's labor, even if some amount of work is required for management of the asset: for example, continuing to profit off a royalties from your fathers work may require occasional meeting to approve new uses of the property, or lawsuits to protect the property. Or, in the case of government rent seeking, lobbying may be an exstensive effort in order to secure subsidies and other benefits. However, the labor expended in both cases are not "productive" labor, and do not meaningfully contribute value in exchange for the costs imposed.
Examples of such:
1) One is granted land, which one collects rent from, but does no management work for.
2) Collecting royalties from a work created by your now deceased father.
3) Benefiting from a trust which you do not manage or grow.
4) Collecting unearned income from government favorable treatment.
* "pure" could be read as some high percentage of the income comes from rent, rather than the individual's labor, even if some amount of work is required for management of the asset: for example, continuing to profit off a royalties from your fathers work may require occasional meeting to approve new uses of the property, or lawsuits to protect the property. Or, in the case of government rent seeking, lobbying may be an exstensive effort in order to secure subsidies and other benefits. However, the labor expended in both cases are not "productive" labor, and do not meaningfully contribute value in exchange for the costs imposed.