INTERMEDIATE

Rent-Seeking

Businesses and other groups sometimes attempt to secure special privileges by lobbying government officials and politicians. These groups might lobby for policies that benefit them directly like subsidies or restrict competition within their industry by the enactment of tariffs on imports, regulations, and licensing requirements.

 

Sheldon Richman - The Most Dangerous Derivative: Power and Privilege in the Corporate State

 

 

Mike Munger - Giving Away Money Costs More Than You Think  by Learn Liberty

Related Publications

ARCHIVE

Bailing Out Statism

SEPTEMBER 12, 2008

The key to understanding the saga of Fannie Mae and Freddie Mac -- the newlynationalized twin government-sponsored enterprises (GSEs) that dominate homefinancing -- is this: They were created -- intentionally -- to distort thehousing and mortgage markets. That is, government planners were not content tolet voluntary exchange and spontaneous market forces configure those industriesunmolested. So -- holding the taxpayers hostage -- they intervened. Make nomistake: the collapse of Fannie and Freddie is government social engineering predictablygone bad. More . . .

A NEW article by Sheldon Richman

ARCHIVE

The Bastiat Solution

AUGUST 29, 2008 by SHELDON RICHMAN

The election season, which -- sigh -- is only just beginning, makes mewant to reread Frederic Bastiat's The Law. It is the best antidotefor the toxic demagoguery that issues forth from across the political spectrum.While the candidates are busy outcompeting one another in proposing new ways tospend our money (while promising to cut taxes), I take refuge in Bastiat's soundphilosophy. Where is he when we need him? More . . .

A NEW article by Sheldon Richman


ARCHIVE

Farm Subsidies Linked to War Appropriation

MARCH 22, 2007

"Three months after promising to curtail spending on pet legislative projects, House Democrats have salted the Iraq emergency spending bill with $3.7 billion for farm interests that make significant donations to Democrats." (USA Today, Thursday)

Legal bribery. Legal plunder.

FEE Timely Classic
"Free-Market Farming" by W. M. Curtiss

ARCHIVE

Special-Interest Transfers Continue Unabated

JANUARY 27, 2006

#8220;An explosion of special interest funding engineered in part by lawmakers with close ties to lobbyists is drawing increased scrutiny as Congress moves to address concern about corruption that already has led to the conviction of a Republican House member and former GOP lobbyist Jack Abramoff.#8221; (Washington Post, Friday)

The proper name is legal plunder.

FEE Timely Classic
#8220;Frederic Bastiat: The Primacy of Property#8221; by James A. Dorn

Related Freeman Articles

FEATURE

School Buses, Teamsters, and Rent-Seeking

DECEMBER 03, 2012 by CHARLES W. BAIRD

If you live in Illinois, the school bus could be bringing union intimidation to a town near you. Charles Baird looks at freedom of association and unionization in the busing business.

ARTICLE

The Rent-Seeking Habit

FEBRUARY 16, 2007 by SHELDON RICHMAN

PERSPECTIVE

Legal Plunder Mislabeled "Defense"

Earmarks for Special Interests Are Hiding in the Defense Budget

MAY 01, 2006 by SHELDON RICHMAN

ARTICLE

The Tobacco-Quota Buyout: More Legal Plunder

There Is No Economic, Legal, or Ethical Reason to Compensate Those Who Have Benefited from a Government-Enforced Cartel

FEBRUARY 01, 2005 by E.C. PASOUR

Related Book Reviews

BOOK REVIEW

Money for Nothing: Politicians, Rent Extraction, and Political Extortion by Fred McChesney

An Important Book in Any Comprehensive Economic Education

APRIL 01, 1998 by ROGER E. MEINERS

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November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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