Tuesday, October 6, 2009

Has Obama Lowered Rent Seekers' Transaction Costs?

President Obama appears to be more pro union, pro tariff, pro income redistribution, pro government control and against market pricing than previous presidents. Has he effectively lowered the cost to rent seekers during his administration? Will we see an unusually high number of rent seekers compared to other presidential terms of office?

If the rent seeking success rate and real dollar amount of an Obama presidency are approximately equal to other post WWII presidencies, is lowering the cost of rent seeking good or bad for the economy?

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