Category: Rent Seeking
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Examples of Rent Seeking: Lobbying
After we saw what rent seeking was, we’re going to look into the different ways in which it can be carried out. Our first example is lobbying, which is often done by corporations to sway the decisions of politicians in their favour. An investment with a 19900% return – sounds absurd, and even impossible, but…
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What is Rent Seeking?
A concept that has its origins in the 1970s, rent seeking is a type of behaviour which has been cited by renowned economists such as Joseph E. Stiglitz as a key cause of inequality. In this article and future ones, we will explore what the actual theory is, its impacts and examples of it being…
Economics 101 