“No doubt exists that rent seeking in general leads to serious inefficiencies in this direct sense, but its indirect damage is even worse. Drawing the bulk of intelligent and energetic people in society into activity that has no social product, or may have a negative social product, is more important in explaining the stagnation of these societies than the direct social cost of the rent seeking.” PeopleMayImportantSocialDoubtSeriousProductsCostActivityNegativeDirectIntelligentSeekingDrawingDamageNo DoubtExplainingEnergeticStagnationIndirectInefficiency Book:Government Failure: A Primer in Public Choice Source: Government Failure: A Primer in Public Choice
“The case may very well be that Congress is willing to restrict campaign contributions because it has these privileges. It is true that incumbents normally get larger contributions than their challengers. The opponents at least get some money, but they do not have access to the perquisites of the incumbent.” WellsMayCasesWillingCongressPrivilegeAccessCampaignsOpponentsContributionIncumbentsCampaign Contributions Author:Gordon Tullock
