Title: What is rent? Definition and some examples - Market Business News
Headings: What is rent? Definition and meaning
What is rent? Definition and meaning
Economic rent – another example
What is land?
Two farmers
What is rent-seeking
Closed-shop systems
The wealth pie does not grow
Government corruption and rent-seeking
Video – What is economic rent?

Content: It means that each participant gets a larger slice of the wealth pie. Licensing requirements contribute nothing to the creating of additional wealth. In other words, they do not make that wealth pie any larger. Any closed-shop system is bad for consumers. Free competition drives down prices. Lack of competition and rent-seeking behaviors, however, keep prices high. Government corruption and rent-seeking
Corruption among politicians and civil servants is also within the concept of rent-seeking. Bribe-seeking bureaucrats are guilty of rent-seeking. They are getting richer without creating any additional wealth. Regulatory Capture refers to a regulatory agency that was initially set up to police an industry and protect the consumer but ends up working for the industry to the detriment of the consumer.