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That is not the economics textbook sense of the phrase. The first sentence from the wikipedia article seems good to me: "R-seeking is the act of growing one's
by maw 1mo ago
That is not the economics textbook sense of the phrase.
The first sentence from the wikipedia article seems good to me: "R-seeking is the act of growing one's existing wealth by manipulating public policy or economic conditions without creating new wealth."
- walrus01 1mo agoRunning an app store that takes some huge % off the top just for distributing a piece of software would meet this definition: "Rent-seeking middlemen: These actors insert themselves into a transaction by force, law, or monopoly control. They do not make the trade easier or better. They just demand a toll or fee because they control access." Monopoly app store enforced on devices by firmware/operating system lockout inserting yourself as the only middleman to distribute things meets the definition. google "economics rent seeking app store"
- mc32 1mo agoI think the iconic rent seeking is the distributors of goods and services in Japan. They don’t add value but you cannot buy directly from the mfg. Same could be said of resellers in the US when they have exclusive distribution rights to another company’s products and services.