The Rent-Seeking Society

A rent-seeking society occurs when individuals or groups seek to gain wealth without creating new value, often through manipulating the political or economic systems. Instead of producing goods or providing services, these entities lobby for regulations, grants, or subsidies that benefit them financially. This behavior can lead to inefficiencies, as resources are diverted from productive activities to securing these advantages. Ultimately, rent-seeking undermines economic growth and can contribute to social inequality, as it rewards those who navigate the system rather than those who innovate or contribute to society.