4 ms·

I think you are confusing the definition of rent seeking, meaning achieving economic gains by means of regulation that is virtually risk free, with collecting r

• baq 8y ago
  Photoshop, being nearly a monopolist, seems to almost fit the definition. Regulation is the only thing here that doesn't match, but being a de facto industry standard would be close enough for me.
• syrrim 8y ago
  "rent seeking", in economics, is not limited to regulation. We would distinguish between those who earn money by creating new value - as the inventor makes some process more efficient, and so makes his living - and those who earn a living despite creating no value. The easiest example of this is the man who has inherited some plot of land, and rents out the plot to someone. He might earn a healthy living - but where has he created value? The strongest example of this is perhaps he who earns money by destroying value - say the window repairman who goes out at night and smashes windows - but this is not required to be classed as rent seeking.