Title: What is rent-seeking? Definition and meaning - Market Business News
Headings: What is rent-seeking? Definition and meaning
What is rent-seeking? Definition and meaning
Rent-seeking behaviors of lobbying
Rent-seeking licensing rackets
Rent-seeking in government
Video – Rent-Seeking – Definition and Meaning

Content: What is rent-seeking? Definition and meaning - Market Business News
What is rent-seeking? Definition and meaning
Rent-seeking, in economic and public-choice theory, refers to attempting to increase one’s share of current wealth without producing or creating any additional wealth. Rent-seeking is the equivalent of trying to get a larger slice of the wealth cake, without trying to make that cake any bigger. It is a **zero-sum game strategy – the rent-seeker’s gain is somebody else’s loss. ** A Zero-Sum Game is a business situation or game in which there is one winner and one loser. The winner’s gain is equivalent to the loser’s total loss – hence the term ‘zero-sum’. If one individual uses the resources of another person, organization, company or any entity to obtain economic gain – to make himself or herself richer – but does not reciprocate any benefits to society through the creation of new wealth, he or she is rent-seeking. A good example of rent-seeking behavior is when the mob shakes down local businesses, insisting they pay for ‘protection’. Rent-seeking behaviors of lobbying
When a commercial enterprise lobbies the national government for tariff protection ( levy taxes on imports ), loan subsidies, or grants – things that do not create any benefit for the nation – it is rent-seeking.