It’s used by economists all the time. It is the use of government to rig the market so a favored class can get above market returns. It can take the form of regulations that create high barriers to entry into a market or restrictive licensing to eliminate competitors. Back in the seventies, the Supreme Court ruled that state bar rules that prohibited advertising by attorneys were a violation of antitrust laws. The rules made it more difficult for potential clients to find attorneys and made entry into the local legal market harder allowing established attorneys and law firms to make higher profits.
The govt picking winners and losers. It’s the little guy always loses. We’ve talked about this a lot on FR with Obama.