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Lots and lots and LOTs of sectors are heavily regulated, which leads to rent seeking which leads to protectionism, either via foreign trade barriers or just mak
by drumdance 11y ago
Lots and lots and LOTs of sectors are heavily regulated, which leads to rent seeking which leads to protectionism, either via foreign trade barriers or just making it bureaucratically difficult for competitors to enter (i.e. Uber getting flack from municipalities).
For a long time the rent-seeking was done by unions, but these days its more commonly done by corporations.