SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: LindyBill who wrote (362088)6/1/2010 8:09:51 PM
From: TimF1 Recommendation   of 793795
 
Rent Sucking
David Henderson

Economists use the term "rent seeking" to refer to people investing resources in getting government favors. In the Concise Encyclopedia article I wrote on this, I explain why I think the term is inappropriate.

But if rent seeking were the appropriate term, then what Tyler Cowen quoted about Greece today could be called "rent sucking." Key quote:

AirSea's odyssey illustrates one of the key problems preventing Greece from generating the economic growth it needs to pay off its heavy debts: Critics say a sprawling civil service has tried to secure its own survival through an opaque patchwork of fees, taxes and red tape. The European Commission estimates the administrative burden of Greece's bureaucracy--the value of work devoted to dealing with government-imposed administration--is equivalent to 7% of gross domestic product, twice the EU average.

econlog.econlib.org
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News