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No, you misunderstood. What do you define as rent-seeking, in a way that can be enforced? Clearly everyone hates patent trolls. But even here it is hard to come
by saagarjha 2y ago
No, you misunderstood. What do you define as rent-seeking, in a way that can be enforced? Clearly everyone hates patent trolls. But even here it is hard to come up with rules that affect them but not "legitimate investors" or whatever. Yes, everyone wants the evil to be punished. But how are you to decide who they are?
- khafra 2y agoYes, that's why we need a new 80,000 person agency to work out the details of enforcement. It's not like it's hard to pick out many, many instances of this. Licensing requirement for hairdressers? Rent-seeking. Blocking the demolition of an abandoned gas station for high-rise construction? Rent-seeking. Longshoremen prohibiting automation of ports? You'd better believe that's a rent-seeking. Will there be edge cases and mistakes? Of course. But there'll be an incredible economic surplus from which to compensate any such victims, with all the progress enabled by removing the rent-seekers.