A Note on the Modeling of Rent Seeking

Kurt von Seekamm

Review of Radical Political Economics, 2017, vol. 49, issue 4, 599-606

Abstract: Rent seeking has once again become an important topic in economics. However, rent seeking poses challenges that standard economic theory is not well equipped to handle. This paper develops a working definition of rent seeking that can be applied to post-Keynesian growth models. The main finding is that, in a post-Keynesian framework, rent seeking will have an effect on income distribution and average productivity. In addition, increases in rent seeking can have undesirable effects on the distribution of talent.

Keywords: rent seeking; post-Keynesian economics; macroeconomics; human capital (search for similar items in EconPapers)
JEL-codes: B5 D72 E02 E12 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:49:y:2017:i:4:p:599-606

DOI: 10.1177/0486613417717047

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