Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘how does rent seeking develop’

Uncle Sam’s Rent-Seeking Economy circa 2013

Posted by Larry Doyle on May 29th, 2013 5:22 AM |

Are we in the midst of the greatest transfer of wealth in modern times?

I will allow others to debate the merits of that question, but I propose it in order to address what I see increasingly as the “new normal” reality of our current economic condition here in the United States. What lies at the core of this new normal dynamic? A rent-seeking economy, defined as:

When a company, organization or individual uses their resources to obtain an economic gain from others without reciprocating any benefits back to society through wealth creation.

An example of rent-seeking is when a company lobbies the government for loan subsidies, grants or tariff protection. These activities don’t create any benefit for society, they just redistribute resources from the taxpayers to the special-interest group. (more…)






Recent Posts


ECONOMIC ALL-STARS


Archives