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by areyouseriousxx
2623 days ago
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> In public choice theory and in economics, rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth [1] > The classic example of rent-seeking, according to Robert Shiller, is that of a feudal lord who installs a chain across a river that flows through his land and then hires a collector to charge passing boats a fee (or rent of the section of the river for a few minutes) to lower the chain. [1] https://en.wikipedia.org/wiki/Rent-seeking |
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