I had a post on an approach to the Book of Mormon where you look at it from the perspective of the Church in our day — a small minority in a much larger culture. That post, with numerous examples and some illustrations, managed to evaporate. So, I’m posting the alternative post on “rent-seeking.”
Wikipedia has a long article on the topic at http://en.wikipedia.org/wiki/Rent-seeking
Like capture and other concepts it is a very important one to understanding many political and other features of modern debates.
In short, “Rent-seeking” consists of taking value from others without compensation and without making any contribution to productivity.
The term originates with gaining control of land or other pre-existing natural resources. In the modern economy, a more common example of rent-seeking is political lobbying to receive a government transfer payment, or to impose burdensome regulations on one’s competitors m — or preventing people from competing — in order to increase one’s market share.
But a huge part of what motivates both the Tea Party and Occupy Wall Street is the perception that others are engaged in rent seeking activities rather than producing anything of value.
What do you think?