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Rant Arayışı Davranışının Ekonomi Politiği ve Kazanılmamış Gelir ve Eşitsizlikle Bağlantısı

Year 2024, Volume: 11 Issue: 2, 593 - 608, 25.07.2024

H. Hilal Bağlıtaş

https://doi.org/10.30626/tesamakademi.1373195

Abstract

Eşitsizlik onlarca yıldır ele alınması gereken en önemli sorunlardan biri olagelmiş ve gelir (veya servet) eşitsizliğine ilişkin çalışmalar pek çok araştırmanın kaynağını oluşturmuştur. Gelir dağılımındaki eşitsizliğin kaynaklarına bakıldığında, bir faktör verimsiz ve ancak yalnızca servet birikimi için makulse, geliri saptırıcı bir etkiye sahip olmaktadır. Bu doğrultuda rant arama faaliyetleri, saptırıcı içeriğe uygun bir yapıdadır. Rant arayışında mal ve hizmet miktarına katkı sunulmaksızın kazanç amaçlanmakta ve bu yönüyle hak edilmemiş (kazanılmamış) gelir özelliği göstermektedir. Kazanılan gelir, fiziksel ve zihinsel faaliyetlerden elde edilen emek karşılığında ödenir. Ancak kazanılmamış gelir bu özelliğe sahip değildir ve gelire yatırım yapılması nedeniyle elde edilen gelirin getirisidir. Başka bir açıdan Stiglitz'in (2016) ifadesine göre rant arayışı, servetten daha fazla pay alma mücadelesidir. Daha büyük pay almak, payların azalmasıyla bağlantılıdır ve toplum içinde eşitsizliğe yol açar. Bu yazıda, rant kollama davranışının ekonomi politiği bağlamında çeşitli yaklaşımlar incelenecektir. Ayrıca rant arayışının kazanılmamış gelir ve eşitsizlikle nasıl ilişkili olduğu gösterilmektedir.

Keywords

Rant Arama Kazanılmamış Gelir Eşitsizlik Politik Ekonomi

References

  • Acemoglu, D. and Robinson, J. A. (2006). De facto political power and institutional persistence. American Economic Review, 96(2), 325-330.
  • Ambler, K., and Godlonton, S. (2021). Earned and unearned income: Experimental evidence on expenditures and labor supply in Malawi. Journal of Economic Behavior & Organization, 187, 33-44.
  • Appelbaum, E. (2017). Domestic outsourcing, rent-seeking, and increasing inequality. Review of Radical Political Economics, 49(4), 513-528.
  • Baker, D. (2016). Rigged: how globalization and the rules of the modern economy were structured to make the rich richer. Washington, DC: Center for Economic and Policy Research.
  • Banerjee, A., Mookherjee, D., Munshi, K., and Ray, D. (2001). Inequality, control rights, and rent seeking: sugar cooperatives in Maharashtra. Journal of Political Economy, 109(1), 138-190.
  • Baumol, W. J. (2004). On entrepreneurship, growth and rent-seeking: Henry George updated. The American Economist, 48(1), 9-16.
  • Blanes i Vidal, J., Draca, M., and Fons-Rosen, C. (2012). Revolving door lobbyists. American Economic Review, 102(7), 3731-3748.
  • Brooks, M. A., Heijdra, B. J., and Lowenberg, A. D. (1990). Productive versus unproductive labor and rent seeking: lessons from history. Journal of Institutional and Theoretical Economics (JITE)/Zeitschrift für die gesamte Staatswissenschaft, 419-438.
  • Buchanan, J. M. (1980). Rent-Seeking and Profit-Seeking. In J. M. Buchanan, R. D. Tollison, & G. Tullocks (Eds.), Toward a Theory of the Rent-Seeking Society (pp. 3-15). College Station, TX: Texas A&M University Press.
  • Buchanan, J. M. (1972). Politics, property, and the law: an alternative interpretation of Miller et al. v. Schoene. The Journal of Law and Economics, 15(2), 439-452.
  • Chakraborty, S., and Dabla-Norris, E. (2006). Rent seeking. IMF Staff Papers, 53, 28-49.
  • Chaturvedi, M. (2016). Rent-seeking induced inequality traps. Access date: 05.04.2023, https://ssrn.com/abstract=2883723 or http://dx.doi.org/10.2139/ssrn.2883723. Congleton, R. D., Hillman, A. L., and Konrad, K. A. (2008). Forty years of research on rent seeking: an overview. The Theory of Rent Seeking: Forty Years of Research, 1, 1-42.
  • Deacon, R. T., and Rode, A. (2015). Rent seeking and the resource curse. In Congleton, R. D., & Hillman, A. L. (Eds.). Companion to the political economy of rent seeking. Edward Elgar Publishing.
  • Dejardin, M. (2011). Entrepreneurship and rent-seeking behavior. In D. B. Audretsch, O. Falck, S. Heblich, & A. Lederer (Eds.), Handbook of research on innovation and entrepreneurship (pp. 17-23). Edward Elgar Publishing.
  • Dencker, J. C., and Fang, C. (2016). Rent-seeking and the transformation of employment relationships: The effect of corporate restructuring on wage patterns, determinants, and inequality. American Sociological Review, 81(3), 467-487.
  • Farooq, M. O. (2019). Rent-seeking behaviour and ẓulm (injustice/exploitation) beyond ribā-interest equation. ISRA International Journal of Islamic Finance.
  • George, H. (1911). Progress and poverty (Vol. 560). London; Toronto: JM Dent.
  • Glaeser, E., Scheinkman, J., and Shleifer, A. (2003). The injustice of inequality. Journal of Monetary Economics, 50(1), 199-222.
  • Gordon, J. (2023), Rent Seeking (Economics) – Explained, Access date: 04.04.2023, https://thebusinessprofessor.com/enUS/economic-analysis-monetary-policy/rent-seeking-definition,
  • Grossman, H. I. (1994). Production, appropriation, and land reform. The American Economic Review, 84(3), 705-712.
  • Grossman, H. I. (1991). A general equilibrium model of insurrections. The American Economic Review, 81, 912-921.
  • Haneef, M. A. (1995). Contemporary Islamic economic thought: A selected comparative analysis. Alhoda UK.
  • Hillman, A. L. (2013). Rent seeking. In M. Reksulak, L. Razzolini, W.F. Shughart II (Eds.), The Elgar Companion to Public Choice, Second Edition (pp. 307-330). Edward Elgar Publishing.
  • Khwaja, A. I., & Mian, A. (2011). Rent seeking and corruption in financial markets. Annu. Rev. Econ., 3(1), 579-600.
  • King, W. I. (1921). Earned and Unearned Income. The ANNALS of the American Academy of Political and Social Science, 95(1), 251-259.
  • Krueger, A. O. (1974). The political economy of the rent-seeking society. The American Economic Review, 64(3), 291-303.
  • Laband, D. N., and Sophocleus, J. P. (1987). The social cost of rent-seeking: first estimates. Journal of Public Finance and Public Choice, 5(2), 127-133.
  • Leibenstein, H. (1968). Entrepreneurship and development. The American economic review, 58(2), 72-83.
  • Linster, B. G. (1993). A generalized model of rent-seeking behavior. Public Choice, 77(2), 421-435.
  • Marshall, A. (1949). Principles of Economics. London, UK: Macmillan.
  • McCormick, R. E., Shughart, W. F., and Tollison, R. D. (1984). The disinterest in deregulation. The American Economic Review, 74(5), 1075-1079.
  • Olson, M.J. (1982). The rise and decline of nations: economic growth, stagflation, and social rigidities. Yale University Press.
  • Olson, M. (1965). The Logic of Collective Action; Public Goods and the Theory of Groups. Cambridge, Massachusetts: Harvard University Press.
  • Palk, L., and Muralidhar, K. (2018). A Free Ride: Data Brokers' Rent-Seeking Behavior and the Future of Data Inequality. Vand. J. Ent. & Tech. L., 20(3), 779-838.
  • Park, H., Philippopoulos, A., & Vassilatos, V. (2005). Choosing the size of the public sector under rent seeking from state coffers. European Journal of Political Economy, 21(4), 830-850.
  • Pedersen, K. R. (1995). Rent-seeking, political influence and inequality: A simple analytical example. Public Choice, 281-305.
  • Posner, R. A. (1975). The social costs of monopoly and regulation. Journal of political Economy, 83(4), 807-827.
  • Rajan, R. (1988). Entrepreneurship and rent seeking in India. Cato Journal, 1(8), 165.
  • Reviglio, U. (2022). The untamed and discreet role of data brokers in surveillance capitalism: a transnational and interdisciplinary overview. Internet Policy Review, 11(3), 1-27.
  • Ricketts, M. (1987). Rent seeking, entrepreneurship, subjectivism, and property rights. Journal of Institutional and Theoretical Economics (JITE)/Zeitschrift für die gesamte Staatswissenschaft, 457-466.
  • Shaw, J. S. (2023). Public Choice Theory. Access date: 13.04.2023, https://www.econlib.org /library/Enc1/PublicChoice Theory.html.
  • Stiglitz, J. (2016). Joseph Stiglitz says standard economics is wrong. Inequality and unearned income kills the economy. Access date: 15.03.2023, https://evonomics.com/joseph-stiglitz-inequality-unearned-income/.
  • Stiglitz, J. E. (2012). The price of inequality: How today's divided society endangers our future. WW Norton & Company.
  • Stiglitz, J. E, and Bilmes, L. J. (2012). The 1 percent’s problem. Vanity Fair, May 31. Access date: 10.04.2023. http://www. vanityfair.com/news/2012/05/joseph-stiglitz-the-price-on-inequality
  • Tollison, R. D. (1997). Rent seeking. In D. C. Mueller (Ed.), Perspectives on public choice: A handbook (pp. 506-525). Cambridge: Cambridge University Press.
  • Tollison, R.D. (2012). The economic theory of rent seeking. Public Choice 152, 73–82. https://doi.org/10.1007/s11127-011-9852-5
  • Tullock, G. (1980), Rent seeking as a negative-sum game. In Buchanan, J.M., Tollison, R.D., and Tullock, G. (Eds), Toward a Theory of the Rent-Seeking Society, TX A&M University Press, College Station, TX, pp. 16-36.
  • Vasilev, A. (2013). On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework. ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel und Hamburg, Access date: 23.10.2023, http://hdl.handle.net/10419/142339.

The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality

Year 2024, Volume: 11 Issue: 2, 593 - 608, 25.07.2024

H. Hilal Bağlıtaş

https://doi.org/10.30626/tesamakademi.1373195

Abstract

For decades, inequality has been one of the most important problems to be tackled, and studies of income (or wealth) inequality are the source of much research. When we deal with the sources of unequal income distribution, and if a factor is unproductive but only reasonable in the accumulation of wealth, it has a diverting impact on income. In this line, rent-seeking activities are a structure suitable for this content. Rent-seeking is aimed at gaining without contributing to the number of goods and services and shows the characteristic of unearned income. Earned income is paid for the labor from physical and mental activities. Unearned income does not have this feature and is a return on income due to investment in income. According to Stiglitz (2016), rent-seeking is a struggle to get a larger share of wealth. Taking larger shares is linked to declining shares and leads to inequality within society. In the context of the political economy of rent-seeking behavior, we examine various approaches. In addition, we illustrate how rent-seeking is related to unearned income and inequality.

Keywords

Rent-Seeking Unearned Income Inequality Political Economy

References

  • Acemoglu, D. and Robinson, J. A. (2006). De facto political power and institutional persistence. American Economic Review, 96(2), 325-330.
  • Ambler, K., and Godlonton, S. (2021). Earned and unearned income: Experimental evidence on expenditures and labor supply in Malawi. Journal of Economic Behavior & Organization, 187, 33-44.
  • Appelbaum, E. (2017). Domestic outsourcing, rent-seeking, and increasing inequality. Review of Radical Political Economics, 49(4), 513-528.
  • Baker, D. (2016). Rigged: how globalization and the rules of the modern economy were structured to make the rich richer. Washington, DC: Center for Economic and Policy Research.
  • Banerjee, A., Mookherjee, D., Munshi, K., and Ray, D. (2001). Inequality, control rights, and rent seeking: sugar cooperatives in Maharashtra. Journal of Political Economy, 109(1), 138-190.
  • Baumol, W. J. (2004). On entrepreneurship, growth and rent-seeking: Henry George updated. The American Economist, 48(1), 9-16.
  • Blanes i Vidal, J., Draca, M., and Fons-Rosen, C. (2012). Revolving door lobbyists. American Economic Review, 102(7), 3731-3748.
  • Brooks, M. A., Heijdra, B. J., and Lowenberg, A. D. (1990). Productive versus unproductive labor and rent seeking: lessons from history. Journal of Institutional and Theoretical Economics (JITE)/Zeitschrift für die gesamte Staatswissenschaft, 419-438.
  • Buchanan, J. M. (1980). Rent-Seeking and Profit-Seeking. In J. M. Buchanan, R. D. Tollison, & G. Tullocks (Eds.), Toward a Theory of the Rent-Seeking Society (pp. 3-15). College Station, TX: Texas A&M University Press.
  • Buchanan, J. M. (1972). Politics, property, and the law: an alternative interpretation of Miller et al. v. Schoene. The Journal of Law and Economics, 15(2), 439-452.
  • Chakraborty, S., and Dabla-Norris, E. (2006). Rent seeking. IMF Staff Papers, 53, 28-49.
  • Chaturvedi, M. (2016). Rent-seeking induced inequality traps. Access date: 05.04.2023, https://ssrn.com/abstract=2883723 or http://dx.doi.org/10.2139/ssrn.2883723. Congleton, R. D., Hillman, A. L., and Konrad, K. A. (2008). Forty years of research on rent seeking: an overview. The Theory of Rent Seeking: Forty Years of Research, 1, 1-42.
  • Deacon, R. T., and Rode, A. (2015). Rent seeking and the resource curse. In Congleton, R. D., & Hillman, A. L. (Eds.). Companion to the political economy of rent seeking. Edward Elgar Publishing.
  • Dejardin, M. (2011). Entrepreneurship and rent-seeking behavior. In D. B. Audretsch, O. Falck, S. Heblich, & A. Lederer (Eds.), Handbook of research on innovation and entrepreneurship (pp. 17-23). Edward Elgar Publishing.
  • Dencker, J. C., and Fang, C. (2016). Rent-seeking and the transformation of employment relationships: The effect of corporate restructuring on wage patterns, determinants, and inequality. American Sociological Review, 81(3), 467-487.
  • Farooq, M. O. (2019). Rent-seeking behaviour and ẓulm (injustice/exploitation) beyond ribā-interest equation. ISRA International Journal of Islamic Finance.
  • George, H. (1911). Progress and poverty (Vol. 560). London; Toronto: JM Dent.
  • Glaeser, E., Scheinkman, J., and Shleifer, A. (2003). The injustice of inequality. Journal of Monetary Economics, 50(1), 199-222.
  • Gordon, J. (2023), Rent Seeking (Economics) – Explained, Access date: 04.04.2023, https://thebusinessprofessor.com/enUS/economic-analysis-monetary-policy/rent-seeking-definition,
  • Grossman, H. I. (1994). Production, appropriation, and land reform. The American Economic Review, 84(3), 705-712.
  • Grossman, H. I. (1991). A general equilibrium model of insurrections. The American Economic Review, 81, 912-921.
  • Haneef, M. A. (1995). Contemporary Islamic economic thought: A selected comparative analysis. Alhoda UK.
  • Hillman, A. L. (2013). Rent seeking. In M. Reksulak, L. Razzolini, W.F. Shughart II (Eds.), The Elgar Companion to Public Choice, Second Edition (pp. 307-330). Edward Elgar Publishing.
  • Khwaja, A. I., & Mian, A. (2011). Rent seeking and corruption in financial markets. Annu. Rev. Econ., 3(1), 579-600.
  • King, W. I. (1921). Earned and Unearned Income. The ANNALS of the American Academy of Political and Social Science, 95(1), 251-259.
  • Krueger, A. O. (1974). The political economy of the rent-seeking society. The American Economic Review, 64(3), 291-303.
  • Laband, D. N., and Sophocleus, J. P. (1987). The social cost of rent-seeking: first estimates. Journal of Public Finance and Public Choice, 5(2), 127-133.
  • Leibenstein, H. (1968). Entrepreneurship and development. The American economic review, 58(2), 72-83.
  • Linster, B. G. (1993). A generalized model of rent-seeking behavior. Public Choice, 77(2), 421-435.
  • Marshall, A. (1949). Principles of Economics. London, UK: Macmillan.
  • McCormick, R. E., Shughart, W. F., and Tollison, R. D. (1984). The disinterest in deregulation. The American Economic Review, 74(5), 1075-1079.
  • Olson, M.J. (1982). The rise and decline of nations: economic growth, stagflation, and social rigidities. Yale University Press.
  • Olson, M. (1965). The Logic of Collective Action; Public Goods and the Theory of Groups. Cambridge, Massachusetts: Harvard University Press.
  • Palk, L., and Muralidhar, K. (2018). A Free Ride: Data Brokers' Rent-Seeking Behavior and the Future of Data Inequality. Vand. J. Ent. & Tech. L., 20(3), 779-838.
  • Park, H., Philippopoulos, A., & Vassilatos, V. (2005). Choosing the size of the public sector under rent seeking from state coffers. European Journal of Political Economy, 21(4), 830-850.
  • Pedersen, K. R. (1995). Rent-seeking, political influence and inequality: A simple analytical example. Public Choice, 281-305.
  • Posner, R. A. (1975). The social costs of monopoly and regulation. Journal of political Economy, 83(4), 807-827.
  • Rajan, R. (1988). Entrepreneurship and rent seeking in India. Cato Journal, 1(8), 165.
  • Reviglio, U. (2022). The untamed and discreet role of data brokers in surveillance capitalism: a transnational and interdisciplinary overview. Internet Policy Review, 11(3), 1-27.
  • Ricketts, M. (1987). Rent seeking, entrepreneurship, subjectivism, and property rights. Journal of Institutional and Theoretical Economics (JITE)/Zeitschrift für die gesamte Staatswissenschaft, 457-466.
  • Shaw, J. S. (2023). Public Choice Theory. Access date: 13.04.2023, https://www.econlib.org /library/Enc1/PublicChoice Theory.html.
  • Stiglitz, J. (2016). Joseph Stiglitz says standard economics is wrong. Inequality and unearned income kills the economy. Access date: 15.03.2023, https://evonomics.com/joseph-stiglitz-inequality-unearned-income/.
  • Stiglitz, J. E. (2012). The price of inequality: How today's divided society endangers our future. WW Norton & Company.
  • Stiglitz, J. E, and Bilmes, L. J. (2012). The 1 percent’s problem. Vanity Fair, May 31. Access date: 10.04.2023. http://www. vanityfair.com/news/2012/05/joseph-stiglitz-the-price-on-inequality
  • Tollison, R. D. (1997). Rent seeking. In D. C. Mueller (Ed.), Perspectives on public choice: A handbook (pp. 506-525). Cambridge: Cambridge University Press.
  • Tollison, R.D. (2012). The economic theory of rent seeking. Public Choice 152, 73–82. https://doi.org/10.1007/s11127-011-9852-5
  • Tullock, G. (1980), Rent seeking as a negative-sum game. In Buchanan, J.M., Tollison, R.D., and Tullock, G. (Eds), Toward a Theory of the Rent-Seeking Society, TX A&M University Press, College Station, TX, pp. 16-36.
  • Vasilev, A. (2013). On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework. ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel und Hamburg, Access date: 23.10.2023, http://hdl.handle.net/10419/142339.
There are 48 citations in total.

Details

Primary Language English
Subjects Economic Theory (Other)
Journal Section Articles
Authors

H. Hilal Bağlıtaş 0000-0002-3031-6271

Publication Date July 25, 2024
Published in Issue Year 2024 Volume: 11 Issue: 2

Cite

APA Bağlıtaş, H. H. (2024). The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality. TESAM Akademi Dergisi, 11(2), 593-608. https://doi.org/10.30626/tesamakademi.1373195
AMA Bağlıtaş HH. The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality. TESAM Akademi Dergisi. July 2024;11(2):593-608. doi:10.30626/tesamakademi.1373195
Chicago Bağlıtaş, H. Hilal. “The Political Economy of Rent-Seeking Behavior and the Connection With Unearned Income and Inequality”. TESAM Akademi Dergisi 11, no. 2 (July 2024): 593-608. https://doi.org/10.30626/tesamakademi.1373195.
EndNote Bağlıtaş HH (July 1, 2024) The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality. TESAM Akademi Dergisi 11 2 593–608.
IEEE H. H. Bağlıtaş, “The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality”, TESAM Akademi Dergisi, vol. 11, no. 2, pp. 593–608, 2024, doi: 10.30626/tesamakademi.1373195.
ISNAD Bağlıtaş, H. Hilal. “The Political Economy of Rent-Seeking Behavior and the Connection With Unearned Income and Inequality”. TESAM Akademi Dergisi 11/2 (July 2024), 593-608. https://doi.org/10.30626/tesamakademi.1373195.
JAMA Bağlıtaş HH. The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality. TESAM Akademi Dergisi. 2024;11:593–608.
MLA Bağlıtaş, H. Hilal. “The Political Economy of Rent-Seeking Behavior and the Connection With Unearned Income and Inequality”. TESAM Akademi Dergisi, vol. 11, no. 2, 2024, pp. 593-08, doi:10.30626/tesamakademi.1373195.
Vancouver Bağlıtaş HH. The Political Economy of Rent-Seeking Behavior and the Connection with Unearned Income and Inequality. TESAM Akademi Dergisi. 2024;11(2):593-608.
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