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I'm not sure that rent seeking requires gov't intervention, I suspect there are instances of monopoly- or oligarchy-driven rent-seeking behavior but I don't hav
by skorgu 17y ago
I'm not sure that rent seeking requires gov't intervention, I suspect there are instances of monopoly- or oligarchy-driven rent-seeking behavior but I don't have the desire right now to do a comprehensive search.
Fundamentally I don't disagree, and I think my comment is pretty clear. I'm not making a specific argument on where the balance of regulation ought to exist. I take issue only with the framing of the debate in terms that make it impossible to hold a conversation. No offense is meant towards anyone, I'd just prefer to keep the discussion at a bit more civil tone. We already have a reddit.
Edit: nuked two paras that didn't come out right.
- CWuestefeld 17y agoI concede the finer point. It's probably true that rent seeking can be accomplished with the intervention of government as such. I maintain that, because government is so accessible and because they carry such a big stick, the vast, vast portion of rent seeking is accomplished by subverting government regulation. That said, I'm up-voting your reply because it is a relevant argument. I just watched a TED video with Paul Romer where he talked about the effect of societal rules on development: not just governmental laws, but broader societal norms that might prevent progress.
- skorgu 17y agoI concur entirely, it's a risky bargain especially considering the temptation to fight rent-seeking with more regulation with the attendant second- and third-order effects. Well said.