1. A Note on the Modeling of Rent Seeking.
- Author
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von Seekamm, Kurt
- Subjects
- *
RENT seeking , *KEYNESIAN economics , *MACROECONOMICS , *HUMAN capital , *INCOME inequality , *LABOR productivity , *STUDENT loans - 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. [ABSTRACT FROM AUTHOR]
- Published
- 2017
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