Topic
Rent-seeking
About: Rent-seeking is a research topic. Over the lifetime, 1865 publications have been published within this topic receiving 64391 citations.
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TL;DR: In this article, the authors studied the impact of competitive import licenses on the economy and the relationship between welfare cost of quantitative restrictions and tariff equivalents, and showed that the effect of wage legislation on equilibrium levels of unemployment.
Abstract: Studies the impact of competitive import licenses on the economy. Value of rents associated with import licenses; Relationship between welfare cost of quantitative restrictions and tariff equivalents; Impact of wage legislation on equilibrium levels of unemployment. (Из Ebsco)
4,933 citations
TL;DR: In this article, historical evidence from ancient Rome, early China, and the Middle Ages and Renaissance in Europe is used to investigate the hypotheses that, while the total supply of entrepreneurs varies among societies, the productive contribution of the society's entrepreneurial activities varies much more because of their allocation between productive activities and largely unproductive activities such as rent seeking or organized crime.
4,571 citations
Posted Content•
TL;DR: The authors showed that in most countries, rent seeking rewards talent more than entrepreneurship does, leading to stagnation, and showed that countries with a higher proportion of engineering college majors grow faster; whereas countries with higher proportions of law concentrators grow slower.
Abstract: A country's most talented people typically organize production by others, so they can spread their ability advantage over a larger scale. When they start firms, they innovate and foster growth, but when they become rent seekers, they only redistribute wealth and reduce growth. Occupational choice depends on returns to ability and to scale in each sector, on market size, and on compensation contracts. In most countries, rent seeking rewards talent more than entrepreneurship does, leading to stagnation. Our evidence shows that countries with a higher proportion of engineering college majors grow faster; whereas countries with a higher proportion of law concentrators grow slower.
1,889 citations
1,844 citations
TL;DR: This paper found that countries with a higher proportion of engineering college majors grow faster than countries with lower proportion of law concentrators, whereas countries with high proportion of business concentrators grow more slowly.
Abstract: A country's most talented people typically organize production by others, so they can spread their ability advantage over a larger scale. When they start firms, they innovate and foster growth, but when they become rent seekers, they only redistribute wealth and reduce growth. Occupational choice depends on returns to ability and to scale in each sector, on market size, and on compensation contracts. In most countries, rent seeking rewards talent more than entrepreneurship does, leading to stagnation. Our evidence shows that countries with a higher proportion of engineering college majors grow faster; whereas countries with a higher proportion of law concentrators grow more slowly.
1,679 citations