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Rent-Seeking |
Also found in: Wikipedia | 0.02 sec. |
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Rent-Seeking The practice of an individual, company, or government attempting to make a profit without making a product, producing wealth, or otherwise contributing to society. For example, a company may seek subsidies from the government, which would count as income for that company. Likewise, a government may seek rent by seizing control of natural resources and charging citizens for use. Some rent seeking is legal, while others, such as some forms of blackmail, are not. Rent-seeking behavior is most common when the rent seeker is also a monopoly or has sufficient economic or political power to act as one. The concept was originated by Adam Smith. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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