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- W2184347890 abstract "The term originally meant the return on land in classical economics, and later also came to mean economic rent, returns not needed to put factors into production. Much rent seeking has been the transfer of land and land rent via the political process, rents in both senses of the term. This paper argues that rent or transfer seeking is induced by the structure of government, which has remained fundamentally unchanged since the adoption of the U.S. Constitution. Public choice theory indicates that rent seeking would take place during the 19th century, an era often pictured as an era of small government and budgets in balanced or in surplus. Much rent seeking did indeed take place, and the vehicle of transfers in the 1800s was land. With income regarded as an increase of assets, the federal budgets during the 1800s had massive off-budget deficits due to the large amounts of lands transferred, reducing the government's asset endowment. The paper also notes that much of the transfers went to concentrated interests, accompanied by substantial fraud and corruption. The paper concludes with an alternative voting structure that would likely reduce the rent-seeking disease of" @default.
- W2184347890 created "2016-06-24" @default.
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- W2184347890 date "2014-01-01" @default.
- W2184347890 modified "2023-09-24" @default.
- W2184347890 title "Ground Rent Seeking in U.S. Economic History Seminar workshop, Economics, SJSU, Sept. 19, 2014" @default.
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