Fun Fact of the Day: The Origins of Rent-Seeking

The concept of “rent-seeking” was developed by Gordon Tullock in his 1967 paper, “The Welfare Costs of Tariffs, Monopolies, and Theft.” But he never actually uses the phrase in the paper.

Rent-seeking remained an idea without a name until 1974, when Anne Krueger published “The Political Economy of the Rent-Seeking Society” in the American Economic Review.

This and other fun facts are in Charles Rowley’s introduction to The Rent-Seeking Society, which is volume 5 of the Collected Works of Gordon Tullock.

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