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11-02-2019 | Issue 1-2/2019

Public Choice 1-2/2019

Rent seeking at 52: an introduction to a special issue of public choice

Journal:
Public Choice > Issue 1-2/2019
Author:
Matthew D. Mitchell
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Abstract

A half century after he developed it, Gordon Tullock’s idea of rent seeking is more relevant than ever. Though the concept has gained widespread acceptance among academics, it has yet to make an impression on public discourse. But with favoritism, corruption, and the power of special interests in the headlines, the idea deserves broader attention. In this special issue of Public Choice we commemorate Tullock’s insight. Contributors examine the making of this classic piece and its effect on economic theory, empirical analysis, and economic teaching. Original papers also develop new insights into questions of development, the control of violence, corruption, culture, equity, regulation, rent extraction, the Political Coase Theorem, and more.

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