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by coliveira 609 days ago
To avoid the rent seeking you need a state that will enforce laws that prohibit the rent seeking process and revert it when it has formed. This is not compatible with free market capitalism in abstract (being against the freedom of capitalist agents), and in practice it cannot be done because the capitalists will use political power to stop it.
1 comments

It is one pissible solution - just as one possible solution for theft is abolishing private property. If there's no property, nobody could steal anything. But it's not the only solution. There are many other ways - such as not employing the services of rent seekers, for example - that do not require government involvement. In some markets, this solution is blocked - usually by, guess what, goverment regulations - but as far as I can see, no goverment forces academia to elevate Elseveir to its pedestal.