7 ms·
His distinction between "wealth generating" and "rent seeking" behavior isn't obvious to me. Is investing in a start-up (so that you hopefully get a cut of the
by drewm1980 11y ago
His distinction between "wealth generating" and "rent seeking" behavior isn't obvious to me. Is investing in a start-up (so that you hopefully get a cut of the wealth generated by thousands of people and machines) a form of rent seeking?
- tim333 11y agoWikipedia: "In economics and in public-choice theory, rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth." So investing in a start-up is not rent seeking.