[SoCal Pubbie]

I don’t understand the term “rent seeking.”

[BipolarBob]

Another prime example of rent-seeking is that the Medicaid is funding opioid prescriptions for low-income workers, Deaton said. The results are workers who are becoming addicted and overdosing while profits are going to the Sacker family which owns Purdue Pharma that makes OxyContin.

I see his point. I want my OxyCotin and I want it cheap. Eliminate the middlemen and sell it on the street with no prescription. The Man is just keeping us down.

/s

[proxy_user]

What about lawyers? They want the most complicated laws possible. Their business is booming.

[Seruzawa]

I prefer Ayn Rand’s terms, moochers and looters.

[griswold3]

Creating value vs Capturing value

[RockyTx]

rent-seeking has nothing to do with subsidies.

rent-seeking is wanting to be the beneficiary.
your own decision, or that of a government.

to extort money from other people
that are in a certain situation

with that situation having little
or no marginal cost to the rent-seeker

example.
doctors, by themselves, decide that
medical schools need to have a license
from some group of doctors.
by limiting the number of medical school graduates,
doctors can extort more money
from sick people

[JubJub]

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