Download or read book Toward a Theory of the Rent seeking Society written by James M. Buchanan and published by College Station : Texas A & M University. This book was released on 1980 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Rent seeking Society written by Gordon Tullock and published by Selected Works of Gordon Tullo. This book was released on 2005 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth volume in The Selected Works of Gordon Tullock consists of six parts, each part expounding on a separate component of the field. Part 1, "Rent Seeking: An Overview," brings together two papers that focus on problems of defining rent-seeking behavior and outline the nature of the ongoing research program in a historical perspective. Part 2, "More on Efficient Rent Seeking," contains four contributions in which Tullock elaborates on his 1980 article on efficient rent seeking. Part 3, "The Environments of Rent Seeking," consists of eight papers that collectively display the breadth of the rent-seeking concept. Part 4, "The Cost of Rent Seeking," comprises seven papers that address several important issues about the cost of rent seeking to society as a whole. Part 5 is Tullock's short monograph Exchanges and Contracts, in which he develops a systematic theory of exchange in political markets. In Part 6, "Future Directions for Rent-Seeking Research," Tullock focuses on the importance of information in the political marketplace. This work has been carefully constructed to build on the inaugural volume in this collection and to ease students through the field in a clear and concise manner. Gordon Tullock is Professor Emeritus of Law at George Mason University, where he was Distinguished Research Fellow in the Center for Study of Public Choice and University Professor of Law and Economics. He also taught at the University of South Carolina, the University of Virginia, Rice University, Virginia Polytechnic Institute and State University, and the University of Arizona. In 1966 he founded the journal that became Public Choice and remained its editor until 1990. Charles K. Rowley was Duncan Black Professor of Economics at George Mason University and a Senior Fellow of the James M. Buchanan Center for Political Economy at George Mason University. He was also General Director of the Locke Institute.

Download or read book Efficient Rent Seeking written by Alan Lockard and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some time ago one of the editors (Gordon Tullock) stumbled on a paradox in the competition for rents. He asked a previous research assistant (William Hunter) to work out some examples and gave a seminar on it. For reasons he cannot recall (but probably bad) he titled his talk `Efficient Rent Seeking'. As Editor of Public Choice he was able to publish without a referee. Incidentally, The Journal of Political Economy had turned it down on the grounds that the economy could not be that chaotic, and hence there must be something wrong even if the referee couldn't put his finger on it. There followed a long series of articles, mainly in Public Choice, in which various distinguished scholars proposed solutions to the paradox. The editor responded by finding fault with these solutions. In this case the editor was arguing against interest. He, like the referee for the JPE, believed that the market works, if not perfectly, at least very well. Nevertheless, the paradox resisted and persisted. It was like the paradox of the liar, and indeed in some cases did show exactly that paradox. Eventually everyone, including the editor, grew tired of the matter and the discussion sort of wound down, although it could not be said that it was either solved or even abated. It also began to appear that it had a much larger scope than just competitive rent seeking. Any contest for wealth, privilege, or prestige in which the chances of winning were affected by the investment of the contestants would appear to be subject to the same problem. The sum of the investments in equilibrium might be much less than the prize or much more. It depended on the structure of the contest, but the range of structures seemed to include almost all economic competition. Clearly, from the standpoint of economics, this was a distressing conclusion. Perhaps the whole vast structure of economic analysis rested on faulty foundations. Speaking frankly, neither of the editors thinks the situation is that desperate. We feel that there is a logical solution, even if we do not know what it is. The purpose of this volume is to attempt to get economists to turn to the problem and, hopefully, solve the paradox. We present here a substantial portion of the literature on the matter. We hope that the readers will be stimulated to think about the problem and, even more, we hope they will be able to solve it.

Download or read book The Political Economy of Rent Seeking written by Charles Rowley and published by Springer Science & Business Media. This book was released on 1988-01-31 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now twenty years since the concept of rent-seeking was first devised by Gordon Tullock, though he was not responsible for coining the phrase itself. His initial insight has burgeoned over two decades into a major research program which has had an impact not only on public choice, but also on the related disciplines of economics, political science, and law and economics. The reach of the insight has proved to be universal, with relevance not just for the democracies, but also, and arguably more important, for all forms of autocracy, irrespective of ideological com plexion. It is not surprising, therefore, that this volume is the third edited publication dedicated specifically to scholarship into rent-seeking behavior. The theory of rent-seeking bridges normative and positive analyses of state action. In its normative dimension, rent-seeking scholarship has expanded, enlivened, in some respects turned on its head, the traditional welfare analyses of such features of modern economics as monopoly, externalities, public goods, and trade protection devices. In its positive dimension, rent-seeking contributions have provided an important analy tical perspective from which to understand and to predict the behavior of politicians, interest groups and bureaucrats, the media and the academy within the political market place. This bridge between normative and positive elements of analysis is invaluable in facilitating an understanding of and evaluating the costs of state activity within a consistent paradigm.

Download or read book The World of Economics written by John Eatwell and published by Springer. This book was released on 1991-05-13 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.

Download or read book 40 Years of Research on Rent Seeking 1 written by Roger D. Congleton and published by Springer Science & Business Media. This book was released on 2008-08-01 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last survey of the rent-seeking literature took place more than a decade ago. Since that time a great deal of new research has been published in a wide variety of journals, covering a wide variety of topics. The scope of that research is such that very few researchers will be familiar with more than a small part of contemporary research, and very few libraries will be able to provide access to the full breadth of that research. This two-volume collection provides an extensive overview of 40 years of rent-seeking research. The volumes include the foundational papers, many of which have not been in print for two decades. They include recent game-theoretic analyses of rent-seeking contests and also appHcations of the rent-seeking concepts and methodology to economic regulation, international trade policy, economic history, poUtical com petition, and other social phenomena. The new collection is more than twice as large as any previous collection and both updates and extends the earlier surveys. Volume I contains previously published research on the theory of rent-seeking contests, which is an important strand of contemporary game theory. Volume II contains previously pubHshed research that uses the theory of rent-seeking to an alyze a broad range of public policy and social science topics. The editors spent more than a year assembling possible papers and, although the selections fill two large volumes, many more papers could have been included.

Download or read book The Political Dimension of Economic Growth written by Silvio Borner and published by Springer. This book was released on 1998-04-12 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The state and its institutions are crucial for economic development: for better and for worse. This insight informs this important, up-to-date and authoritative survey of new trends in growth economics and the widely divergent economic performance of developing countries - for example, between Latin America and South-east Asia - which seemed to be similarly placed just a generation ago. The decisive role of the political dimension in economic growth seems clear but there are many challenges to be met in getting an analytical handle on the precise determinants and in testing empirically for this. This is the challenge taken up by the international team of contributors.

Download or read book Rents Rent Seeking and Economic Development written by Mushtaq Husain Khan and published by Cambridge University Press. This book was released on 2000-09-07 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concepts of rents and rent-seeking are central to any discussion of the processes of economic development. Yet conventional models of rent-seeking are unable to explain how it can drive decades of rapid growth in some countries, and at other times be associated with spectacular economic crises. This book argues that the rent-seeking framework has to be radically extended by incorporating insights developed by political scientists, institutional economists and political economists if it is to explain the anomalous role played by rent-seeking in Asian countries. It includes detailed analysis of Thailand, Malaysia, the Philippines, the Indian sub-continent, Indonesia and South Korea. This new critical and multidisciplinary approach has important policy implications for the debates over institutional reform in developing countries. It brings together leading international scholars in economics and political science, and will be of great interest to readers in the social sciences and Asian studies in general.

Download or read book The Economic Analysis of Rent Seeking written by Robert D. Tollison and published by Edward Elgar Publishing. This book was released on 1995 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection brings together the classic papers on the economics of rent seeking. These papers date from Gordon Tullock's original 1967 paper which first put forth the idea that the pursuit of transfers was socially costly. Other classic papers by Anne Krueger and Richard Posner are included, as well as a series of more recent papers which trace the evolution of the literature on this important innovation in economic theory.

Download or read book Essays in the Economic Role of Government Applications written by Warren J. Samuels and published by New York University Press. This book was released on 1992-06 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential addition to any economics library, these five volumes present the contributions and writings of an influential and prolific scholar.

Download or read book The Economics of Special Privilege and Rent Seeking written by Gordon Tullock and published by Springer Science & Business Media. This book was released on 1989-08-31 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the reader of this book probably already knows, I have devoted a great deal of time to the topic which is, rather unfortunately, named rent seeking. Rent seeking, the use of resources in actually lowering total product although benefiting some minority, is, unfortunately, a major activity of most governments. As a result of this, I have stumbled on a puzzle. The rent-seeking activity found in major societies is immense, but the industry devoted to producing it is nowhere near as immense. In Washington the rent-seeking industry is a very conspicuous part of the landscape. On the other hand, if you consider how much money is being moved by that industry, then it is comparatively small. The first question that this book seeks to answer is: How do we account for the disparity? A second problem is that almost all rent seeking is done in what superficially appears to be an extremely inefficient way. I recently got estimates of the net cost to the public of the farm program and its net benefit to the farmers. The first is many times the second. Indeed, it is not at all obvious that in the long run, today's farmers are better off than they would be if the program had never been implemented. Of course, in any given year, cancelling the program would be quite painful. The first section of this book, then, is devoted to this problem.

Download or read book Rent Seeking written by Gordon Tullock and published by Edward Elgar Publishing. This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is part of a four-volume set, an annual series dedicated to the work of John Locke. This volume deals with rent seeking. The others cover classical liberalism, public choice and constitutional democracy; property rights as a guarantor of liberty; and the liberty-state relationship.

Download or read book The Political Economy of Rent Seeking written by Charles Rowley and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now twenty years since the concept of rent-seeking was first devised by Gordon Tullock, though he was not responsible for coining the phrase itself. His initial insight has burgeoned over two decades into a major research program which has had an impact not only on public choice, but also on the related disciplines of economics, political science, and law and economics. The reach of the insight has proved to be universal, with relevance not just for the democracies, but also, and arguably more important, for all forms of autocracy, irrespective of ideological com plexion. It is not surprising, therefore, that this volume is the third edited publication dedicated specifically to scholarship into rent-seeking behavior. The theory of rent-seeking bridges normative and positive analyses of state action. In its normative dimension, rent-seeking scholarship has expanded, enlivened, in some respects turned on its head, the traditional welfare analyses of such features of modern economics as monopoly, externalities, public goods, and trade protection devices. In its positive dimension, rent-seeking contributions have provided an important analy tical perspective from which to understand and to predict the behavior of politicians, interest groups and bureaucrats, the media and the academy within the political market place. This bridge between normative and positive elements of analysis is invaluable in facilitating an understanding of and evaluating the costs of state activity within a consistent paradigm.

Download or read book Rent Seekers Profits Wages and Inequality written by Péter Mihályi and published by Springer. This book was released on 2018-12-29 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mihályi and Szelényi provide a timely contribution to contemporary debates about inequality of incomes and wealth, offering a careful examination of various sources of rent in contemporary societies, and considering several policy options to reduce inequality in order to preserve the meritocratic nature of liberal democracies. While Rent-Seekers, Profits, Wages and Inequality acknowledges the rapid and disturbing increase of incomes and wealth in the top 1 or 0.1%, it focuses on the increasing rent component of incomes and wealth in the top 20% as even more consequential. The attention to cutting-edge issues on inequality in macroeconomics, political science and sociology will appeal to social scientists interested in income distribution and wealth accumulation.

Download or read book Political Capitalism written by Randall G. Holcombe and published by Cambridge University Press. This book was released on 2018-07-19 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Problems associated with cronyism, corporatism, and policies that favor the elite over the masses have received increasing attention in recent years. Political Capitalism explains that what people often view as the result of corruption and unethical behavior are symptoms of a distinct system of political economy. The symptoms of political capitalism are often viewed as the result of government intervention in a market economy, or as attributes of a capitalist economy itself. Randall G. Holcombe combines well-established theories in economics and the social sciences to show that political capitalism is not a mixed economy, or government intervention in a market economy, or some intermediate step between capitalism and socialism. After developing the economic theory of political capitalism, Holcombe goes on to explain how changes in political ideology have facilitated the growth of political capitalism, and what can be done to redirect public policy back toward the public interest.

Download or read book The Elgar Companion to Public Choice written by William F. Shughart and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: '. . . this compendium offers a solid introduction into an economic field that is gaining in influence.' – Detmar Doering, Frankfurter Allgemeine Zeitung 'The first essay in this volume, "Public Choice at the Millennium," by the two editors, sets a high standard for all the essays to follow. . . The essay takes us through the early history of public choice research in a particularly lucid fashion. . . This first article is destined to be a must-read on many reading lists on both graduate and undergraduate courses in political economy. . . . the volume is likely to become a much-used reference tool. . . . for those researchers interested in a comprehensive discussion of the far-reaching literature in this area, and want some provocation in the mix, this is clearly the right choice.' – Sharon M. Oster, Public Choice 'Many of the chapters of this handbook will be an indispensable addition to any course reading list in public choice, or public economics. They serve as an excellent complement, integrating diverse lines of thoughts, to the core scholarly writings in the field. The essays are well-written and succeed, admirably, in accomplishing what a handbook must, making difficult and disparate material quite comprehensible to someone who wishes to become acquainted with the area.' – Harold M. Hochman, Lafayette College, US 'This is an extremely valuable insiders' account of what public choice is about. Presented in thirty well-reasoned and documented chapters, the book is a treasure trove for every political economist.' – Jürgen G. Backhaus, Maastricht University, The Netherlands This authoritative and encyclopaedic reference work provides a thorough account of the public choice approach to economics and politics. The Companion breaks new ground by joining together the most important issues in the field in a single comprehensive volume. It contains state-of-the-art discussions of both old and contemporary problems, including new work by the founding fathers as well as contributions by a new generation of younger scholars. The book reviews the literature of public choice, highlighting the common ground between all rational choice approaches to politics. It demonstrates the important impact of public choice on economics, political science, philosophy and sociology. It will be an indispensable source of reference for many years to the ideas, analytical methods and empirical research in the field. The Companion will serve as the standard reference work for all those engaged in the field of public choice and will be essential reading for politicians and policymakers, scholars in political science, public and social choice, as well as graduate students in economics, political science and public administration.

Download or read book The Distribution of Wealth written by John Bates Clark and published by . This book was released on 1899 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: