Rent-Seeking, Political Influence and Inequality: A Simple Analytical Example

Karl R Pedersen

Public Choice, 1995, vol. 82, issue 3-4, 305 pages

Abstract: A simple model allowing an analysis of the interaction between economic policy decisions and rent-seeking by private agents competing for political influence is developed. Rent-seeking may be of the directly unproductive type, requiring resources that are withdrawn from productive activities, or it may manifest itself as income transfers (corruption) to political decisionmakers. In the political-economic equilibrium of the model, the extent of rent-seeking, economic policy decisions, income inequality, etc., are endogenously determined. Copyright 1995 by Kluwer Academic Publishers

Date: 1995
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