O ‘zbekiston respublikasi oliy ta’lim fan va innovatsiyalar vazirligi farg‘ona davlat universiteti

O ‘ZBEKISTON RESPUBLIKASI OLIY TA’LIM
FAN VA INNOVATSIYALAR VAZIRLIGI
FARG‘ONA DAVLAT UNIVERSITETI
SIRTQI BO’LIM
Iqtisodiyot yo‘nalishi

Ingliz tili fanidan

19.86 guruh talabasi

Nabijonov Muhammadqodir


MUSTAQIL ISHI

RENT SEEKING PUBLIC CHOICE

Plan
1 Introduction

2 Definitions and Semantics

3 Theory

4 Measurement of Rent-Seeking Costs


1. Introduction
Rent seeking is the socially costly pursuit of wealth transfers. The concept of rent seeking was introduced to the economics profession by Tullock (1967). In his original presentation the basic idea that transfer seeking could lead to social costs was so simple that it has been automatically assumed that the idea had to have clear precursors in the literature. Nonetheless, even though one can find vague resemblances to the idea in many earlier writings, no one has uncovered a forerunner to Tullock’s idea. His 1967 paper represents an original and important development in economic theory.
The early doctrinal development of the theory of rent seeking proceeded as follows. Krueger (1974) gave the field a name in her paper "The Political Economy of the Rent-Seeking Society." Although she presented some empirical estimates of the costs of rent seeking, Krueger’s paper was primarily theoretical in nature, showing how rent seeking can lead to social costs in the adoption of policies to restrict international trade. Krueger was unaware of Tullock’s paper. Posner (1975), who was aware of Tullock’s paper, wrote the first empirical paper about rent seeking. His estimates suggested that the social costs of rent seeking in the regulated sector of the U.S. economy could be substantial. Finally, in an effort to solidify the earlier contributions and to stimulate work in the field, Buchanan (1980) published collections of papers on rent seeking that have been both widely cited and influential in the subsequent development of the field.

The remainder of this essay will detail the various aspects of the theory of rent seeking as it has evolved since Tullock’s seminal paper.