Open AccessThe pros and cons of rent-seeking: Political rent in various research paradigms
Author(s) -
Stefan Sękowski
Publication year - 2021
Publication title -
studia z polityki publicznej
Language(s) - English
Resource type - Journals
eISSN - 2719-7131
pISSN - 2391-6389
DOI - 10.33119/kszpp/2021.2.1
Subject(s) - rent seeking , conceptualization , politics , economics , economic rent , public choice , state (computer science) , position (finance) , public economics , positive economics , microeconomics , political science , finance , law , algorithm , artificial intelligence , computer science
This article shows that how we look at political rent and rent-seeking depends on our position on state interference in the economy and which theory of regulation we are familiar with. Although the theory of rent-seeking is in accordance with the paradigm of the private interest (economic) theories of regulation, the researcher also needs an insight based on the public interest theories of regulation if he wants to judge the impact of rent-seeking and the creation of political rent on social well-being properly. The paper is also a conceptualization of political rent. It describes forms of rent-seeking and economic systems most amenable to it.