Political Economy of the Rent-Seeking Society is a book written by Anne Osborn Krueger, a prominent economist and researcher known for her work in the field of development economics and the study of rent-seeking. The book, first published in 1974, provides a comprehensive and detailed analysis of the concept of rent-seeking and its impact on economic development and public policy.
The book begins by introducing the basic concepts of rent-seeking, including the definition, causes, and consequences of rent-seeking behavior. Rent-seeking refers to the use of resources to gain access to economic rents, or income above and beyond what is required to keep resources in their current use. Krueger argues that rent-seeking behavior can have negative effects on economic growth, development, and public welfare.
One of the key contributions of the book is Krueger's analysis of the various forms of rent-seeking and the impact they have on economic development. She examines the role of government policies and institutions in shaping rent-seeking behavior and the ways in which rent-seeking can lead to inefficiencies and market distortions.
The book also examines the impact of rent-seeking on public policy, including the ways in which rent-seekers can influence policy decisions to their own benefit. Krueger provides a balanced and objective analysis of the benefits and costs of different policy options, and she encourages the reader to consider the trade-offs involved in policy decisions.
Political Economy of the Rent-Seeking Society is considered a classic work in the field of development economics and the study of rent-seeking. It provides a comprehensive and influential analysis of the concept of rent-seeking and its impact on economic development and public policy. The book is widely used as a textbook in university courses and it is considered a valuable resource for students, scholars, and anyone interested in understanding the economic consequences of rent-seeking behavior.
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