Source: Liberal Currents
by Andy Craig
“Classical liberals once led the charge against rent-seeking: the practice of using political influence to secure economic benefits that would not otherwise be available in a competitive market. In the fight for free trade, protectionist tariffs were accurately portrayed as enriching the few at the expense of the many. State-granted monopolies, especially before the advent of general incorporation laws, were cast as unjust privileges incompatible with the philosophy of equal rights for all. … Today, however, rent-seeking has receded from the forefront of political debate, leaving many of its most egregious forms to persist unchecked. Worse, much of the rent-seeking that exists today is hidden behind the rhetoric of free markets and economic liberty, even though it thrives on government intervention.” (10/25/24)
https://www.liberalcurrents.com/liberals-must-wage-war-on-rent-seeking/