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Disclaimer. Don't rely on these old notes in lieu of reading the literature, but they can jog your memory. As a grad student long ago, my peers and I collaborated to write and exchange summaries of political science research. I posted them to a wiki-style website. "Wikisum" is now dead but archived here. I cannot vouch for these notes' accuracy, nor can I say who wrote them.
Krueger. 1974. The political economy of rent-seeking. American Economic Review 3: 291-303.
Y = welfare/deadweight loss (from rent seeking)
X = competitiveness of rent-seeking, as defined by the nature of import restrictions
Main point: all capitalist societies have rents. These rents impose costs on society, but they impose even greater costs when the system invites competition for these rents.
Research on similar subjects
Tags
Krueger, Anne (author) • Economics • Rents • Regulation • Interest Groups
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