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JuniperMesostoday at 10:08 AM2 repliesview on HN

> Opposing rent-seeking is literally why we have American democracy, which paved the way for French, Brazilian, Canadian, Indian, Mexican and so many other democracies. Kings were the ultimate rent-seekers: every citizen was the product.

It's really not. Opposing rent-seeking in a general sense isn't what motivated the American revolution; and the King of England in the 18th century wasn't primarily a rent-seeker. The royal family did and does own a great deal of land in Britain which they collect rents on, but this is true of a lot of the historic and current British nobility; and the institution of the British monarchy was and is doing a lot of other things socially that just have no relationship to rent-seeking one way or the other. Ruling monarchs aren't "rent-seekers" where their citizens are "products", except insofar as any government of any group of people is; and I think that's way too reductive a way to explain why societies and governments work the way they do.

Rent-seeking is a temptation that all sorts of people under all sorts of political and economic systems are prone to. Democracy is no particular guard against it, because people who benefit from rent-seeking in some particular set of circumstances can vote too.

This isn't to say that rent-seeking is good, but it's also a pretty hard thing to regulate. It's really hard to codify in law which economic activities are rent-seeking and which ones are people buying a product or service that someone else thinks is a bad deal for them.


Replies

flumes_whims_today at 1:47 PM

Members of parliament who owned stock in the East India company bailing it out by allowing it to sell tea directly to the American colonies?

sdwrtoday at 12:51 PM

No taxation without representation?