In economics, an absentee landlord is a person who owns and rents out a profit-earning property, but does not live within the property's local economic region. The term "absentee ownership" was popularised by economist Thorstein Veblen's 1923 book of the same name, Absentee Ownership. Overall, tax policy seems to favour absentee ownership. However, some jurisdictions seek to extract money from absentee owners by taxing land. Absentee ownership has sometimes put the absentee owners at risk of loss.
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👉 Absentee landlord in the context of Arthur Balfour
Arthur James Balfour, 1st Earl of Balfour (/ˈbælfər, -fɔːr/; 25 July 1848 – 19 March 1930), was a British statesman and Conservative politician who served as Prime Minister of the United Kingdom from 1902 to 1905. As foreign secretary in the Lloyd George ministry, he issued the Balfour Declaration of 1917 on behalf of the cabinet, which supported a "home for the Jewish people" in Palestine, and later issued the Balfour Declaration of 1926 as Lord of the Privy Council, which announced a co-equal relationship between the United Kingdom and its Dominions, laying the groundwork for the Statute of Westminster 1931 which granted full independence to the former colonies.
Entering Parliament in 1874, Balfour achieved prominence as Chief Secretary for Ireland, in which position he suppressed agrarian unrest whilst taking measures against absentee landlords. He opposed Irish Home Rule, saying there could be no half-way house between Ireland remaining within the United Kingdom or becoming independent. From 1891 he led the Conservative Party in the House of Commons, serving under his uncle, Lord Salisbury, whose government won large majorities in 1895 and 1900. An esteemed debater, he was bored by the mundane tasks of party management.