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Rent Seeking and Profit Seeking

In: 40 Years of Research on Rent Seeking 1

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  • James M. Buchanan
Abstract
RENT SEEKING, as a specific term, emerged in applied economic theory only in the 1970’s. The behavior that it describes, however, has been with us always, and there is surely no prospect that it will fade away. Behaviorally, rent seeking has become more important because institutional changes have opened up opportunities that did not exist in the nineteenth and early twentieth centuries.

Suggested Citation

  • James M. Buchanan, 2008. "Rent Seeking and Profit Seeking," Springer Books, in: Roger D. Congleton & Arye L. Hillman & Kai A. Konrad (ed.), 40 Years of Research on Rent Seeking 1, pages 55-67, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79182-9_3
    DOI: 10.1007/978-3-540-79182-9_3
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