Rise Of The Rent Seeker : A Critical Analysis Of The Subscription Economy
Anne Kreuger is an incredible woman, in a world of economists, in a time when men held all the important jobs, she was Chief Economist to the World Bank, then a Director of the International Monetary Fund and is now a Senior Research Professor of International Economics at John Hopkins.
What I admire most about Anne is that before she accomplished any of this, she coined the term ‘rent seeking’ and published a now classic paper on the subject, cocking a snook at rent seekers in the political arena, surely making herself enemies in the process, but still going on to greatness.
Anne is living proof that with brains and courage, a woman can climb high, even if they happen to be one of the very few woman in the room. I have never met Anne Kreuger, but I think she would like me because I am a classic entrepreneur in that I am a profit seeker, rather than a rent seeker.
In economics a profit seeker is clearly defined as a person who seeks to make money by engaging in a series of mutually beneficial transactions.
What Is A Rent Seeker?
A rent seeker is clearly defined as a person who profiteers by redistributing wealth among different groups without creating new additional wealth.
