‘Rent seeking’ is generally understood as a pejorative. And this article is not different in that way…
But, it does seem to use the term differently from the common pejorative use, which generally describes behavior. In Vox here, Mathews describes Stiglitz et al as defining ‘rent seeking’ as a broad type of commerce, with others being production, service, etc.
It’s fairly intuitive, but I had not been highly contemplative of the rent seeking ‘rent seeking’ sector.
Anyway, you get the feeling Stiglitz, Piketty… the usual crew… think generating rent from assets is bad…cuz the wealthy own (the) assets. And that you’d change the nature of this dynamic with say higher capital gains / investments taxes.
Well, maybe…. But I’m not sure the underlying assumptions are good. I doubt the large size of the ‘rent seeking’ economy is a result of tax policy. And I’m not sure the size of the ‘rent seeking’ sector is good, bad, or indifferent. It just is
Gallup to the left…
Mostly. http://www.vox.com/2015/5/28/8673403/social-issues-poll Guns being something of a stunning exception (I’d say that yes, guns are a social issue among other things). It is an ungainly comparison though. You look at that list and read ‘the country is moving left’ on social issues, and that’s to say a libertine direction. The country is moving towards the libertine on guns and we do not understand this to be ‘moving left.’ But what is aligned, is that the shift toward the libertine reflects an advance of secularism within the country. And, I allusioned a point about this some weeks before… arms, small arms, are as they are in America because there’s never been a state church or even a dominant faith in this country that could give a sanction of legitimacy to national gun control like they’ve had in Europe. So what I’d say is…. in a country getting more secular, there’s not actually much chance the advance of gun rights is going to get rolled back while other libertine advances continue apace in a leftward direction. Despite, ya know, the assumption being it’s all white old religious people that are intransigent on guns….