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Efficient Rent-Seeking: Chronicle of an Intellectual Quagmire

Efficient Rent-Seeking: Chronicle of an Intellectual Quagmire

Penned By Alan Lockard
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Efficient Rent-Seeking: Chronicle of an Intellectual Quagmire

Efficient Rent-Seeking: Chronicle of an Intellectual Quagmire

Penned By Alan Lockard
4.85 25,132 Ratings
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Editor's Note:
Some time ago one of the editors (Gordon Tullock) stumbled on a paradox in the competition for rents. He asked a previous research assistant (William Hunter) to work out some examples and gave a seminar on it. For reasons he cannot recall (but probably bad) he titled his talk Efficient Rent Seeking'. As Editor of Public Choice he was able to publish without a referee. Incidentally, The Journal of Political Economy had turned it down on the grounds that the economy could not be that chaotic, and hence there must be something wrong even if the referee couldn't put his finger on it. There followed a long series of articles, mainly in Public Choice, in which various distinguished scholars proposed solutions to the paradox. The editor responded by finding fault with these solutions. In this case the editor was arguing against interest. He, like the referee for the JPE, believed that the market works, if not perfectly, at least very well. Nevertheless, the paradox resisted and persisted. It was like the paradox of the liar, and indeed in some cases did show exactly that paradox. Eventually everyone, including the editor, grew tired of the matter and the discussion sort of wound down, although it could not be said that it was either solved or even abated. It also began to appear that it had a much larger scope than just competitive rent seeking. Any contest for wealth, privilege, or prestige in which the chances of winning were affected by the investment of the contestants would appear to be subject to the same problem. The sum of the investments in equilibrium might be much less than the prize or much more. It depended on the structure of the contest, but the range of structures seemed to include almost all economic competition. Clearly, from the standpoint of economics, this was a distressing conclusion. Perhaps the whole vast structure of economic analysis rested on faulty foundations. Speaking frankly, neither of the editors thinks the situation is that desperate. We feel that there is a logical solution, even if we do not know what it is. The purpose of this volume is to attempt to get economists to turn to the problem and, hopefully, solve the paradox. We present here a substantial portion of the literature on the matter. We hope that the readers will be stimulated to think about the problem and, even more, we hope they will be able to solve it.

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Released January 31, 2001
Identifier (ISBN) 5484071
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Alan Lockard
The Mind Behind the Work
Alan Lockard

Alan Lockard is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, Alan Lockard enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.

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Nancy Walker
Nancy Walker October 29, 2025
"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
Jacob Jones
Jacob Jones August 16, 2024
"Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
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Nancy Walker
Nancy Walker March 19, 2024
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Donna Green
Donna Green July 19, 2024
"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Jessica Rodriguez
Jessica Rodriguez July 13, 2024
"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Andrew Johnson
Andrew Johnson February 01, 2024
"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece."
Amanda Robinson
Amanda Robinson July 22, 2025
"I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Amanda Thompson
Amanda Thompson May 21, 2025
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
Brian Thompson
Brian Thompson October 20, 2024
"I find myself somewhat conflicted. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes."
Gary Gomez
Gary Gomez January 31, 2025
"I find myself somewhat conflicted. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. A fair 3 stars."
Betty Mitchell
Betty Mitchell November 25, 2025
"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
Cynthia Hall
Cynthia Hall October 02, 2024
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Edward Harris
Edward Harris May 26, 2025
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Ashley Reyes
Ashley Reyes November 21, 2024
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Edward Scott
Edward Scott February 04, 2024
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Robert Smith March 28, 2024
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"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
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William Lee
William Lee September 09, 2024
"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
Stephanie Baker
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"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Daniel Rodriguez
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"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
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"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
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"Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall."
Edward Harris
Edward Harris March 29, 2025
"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
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Donald Wright
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Eric Sanchez
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"Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
Anthony Moore
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Daniel  Parker
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Matthew Reyes
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Sarah Scott
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Charles Edwards
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Lisa Robinson
Lisa Robinson July 29, 2024
"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
Nancy Torres
Nancy Torres June 11, 2025
"Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Lisa Gonzalez
Lisa Gonzalez December 11, 2024
"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
Richard Sanchez
Richard Sanchez November 07, 2024
"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Elizabeth Roberts
Elizabeth Roberts March 11, 2024
"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Patricia Scott
Patricia Scott October 09, 2025
"Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Anthony Green
Anthony Green June 18, 2024
"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
Barbara Flores
Barbara Flores December 07, 2025
"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Anthony Walker
Anthony Walker April 23, 2025
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Sandra  Parker
Sandra Parker October 11, 2025
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Betty Thomas
Betty Thomas April 06, 2024
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
Robert  Davis
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"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
Richard Edwards
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"I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
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"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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Daniel Rodriguez
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Ryan Baker
Ryan Baker July 11, 2025
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
Amanda Evans
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"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
Carol Jones
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"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Kenneth Lopez
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"Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
Robert Sanchez
Robert Sanchez June 02, 2024
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre."
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"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
Jessica Moore
Jessica Moore November 02, 2024
"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
Matthew Wilson
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"Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Brian Carter
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Edward Scott
Edward Scott July 03, 2025
"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Eric Turner
Eric Turner November 28, 2025
"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Eric Miller
Eric Miller April 27, 2025
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Ashley Johnson
Ashley Johnson February 09, 2025
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Carol Carter
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"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall."
Edward Scott
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"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
Dorothy Wright
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"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Thomas Moore
Thomas Moore April 15, 2024
"Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Margaret Phillips
Margaret Phillips March 03, 2024
"A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Melissa Martinez
Melissa Martinez April 07, 2024
"A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me."
Jennifer Young
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"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
Ryan  Davis
Ryan Davis September 10, 2024
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Jessica Cruz
Jessica Cruz June 10, 2024
"A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
Jennifer Reyes
Jennifer Reyes December 07, 2025
"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me."
Emily Taylor
Emily Taylor February 07, 2025
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Andrew Nguyen
Andrew Nguyen September 07, 2024
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
Brian Hernandez
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"Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
Melissa Moore
Melissa Moore August 09, 2024
"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
Robert Mitchell
Robert Mitchell January 26, 2025
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Amanda Taylor
Amanda Taylor November 02, 2025
"Not entirely to my refined tastes. The prose was competent, yet the characters lacked the depth I usually seek. Perhaps more aligned with a different audience's tastes."
Patricia Collins
Patricia Collins September 18, 2025
"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Paul Anderson
Paul Anderson March 11, 2024
"It was adequate. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Suitable if your reading queue is empty."
Daniel Collins
Daniel Collins September 24, 2025
"Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece."
Matthew Williams
Matthew Williams September 06, 2024
"Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
Matthew Martin
Matthew Martin April 24, 2024
"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers."
Kevin Thompson
Kevin Thompson December 11, 2025
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Kenneth Smith
Kenneth Smith October 11, 2025
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Carol  Davis
Carol Davis February 29, 2024
"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Anthony Miller
Anthony Miller November 02, 2024
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
Nicholas Flores
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"Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel."
Kenneth Williams
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"An acceptable diversion. The prose was competent, yet the characters lacked the depth I usually seek. Unlikely to reread, but a reasonable expenditure of time."
Robert Mitchell
Robert Mitchell July 29, 2024
"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
David Rivera
David Rivera May 11, 2025
"I find myself somewhat conflicted. Certain acts were fascinating, while others felt like a slight endeavor to complete. Suitable if your reading queue is empty."
John Sanchez
John Sanchez January 24, 2024
"A decent, if standard, experience. It verged on repetitive in the second act. A more concise edit would have served it well. Perhaps more aligned with a different audience's tastes."
Carol Robinson
Carol Robinson June 21, 2025
"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
Margaret Young
Margaret Young January 16, 2024
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
John Green
John Green August 21, 2025
"It was adequate. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Suitable if your reading queue is empty."
Rebecca Rodriguez
Rebecca Rodriguez December 26, 2024
"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Melissa Scott
Melissa Scott July 22, 2024
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Sharon Turner
Sharon Turner February 19, 2024
"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
Patricia Wilson
Patricia Wilson October 19, 2025
"Not entirely to my refined tastes. The prose was competent, yet the characters lacked the depth I usually seek. Perhaps more aligned with a different audience's tastes."
Sharon Turner
Sharon Turner October 27, 2025
"Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Gary Lee
Gary Lee November 25, 2025
"Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
Melissa Johnson
Melissa Johnson January 11, 2025
"A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
Charles Edwards
Charles Edwards October 03, 2024
"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
Amanda Robinson
Amanda Robinson April 15, 2025
"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend."
David Rivera
David Rivera May 09, 2024
"Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend."
Nancy Robinson
Nancy Robinson January 26, 2025
"Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Sarah Edwards
Sarah Edwards March 21, 2024
"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Thomas Young
Thomas Young November 25, 2025
"A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Christopher Hall
Christopher Hall February 04, 2024
"An acceptable diversion. It verged on repetitive in the second act. A more concise edit would have served it well. Perhaps more aligned with a different audience's tastes."
Steven Thomas
Steven Thomas December 03, 2024
"A decent, if standard, experience. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Unlikely to reread, but a reasonable expenditure of time."
Donna Walker
Donna Walker July 18, 2024
"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Lisa Baker
Lisa Baker September 15, 2025
"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
Andrew King
Andrew King October 08, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
David Scott
David Scott December 17, 2024
"Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
John Sanchez
John Sanchez November 04, 2025
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Rebecca Rodriguez
Rebecca Rodriguez May 29, 2025
"Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Patricia Scott
Patricia Scott November 30, 2025
"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend."
Melissa Sanchez
Melissa Sanchez January 02, 2025
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Jessica  Parker
Jessica Parker April 09, 2025
"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
Eric Thompson
Eric Thompson November 02, 2024
"It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Unlikely to reread, but a reasonable expenditure of time."
Jennifer Young
Jennifer Young February 16, 2024
"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
Dorothy Young
Dorothy Young November 30, 2025
"I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers."
Mary Gomez
Mary Gomez December 24, 2025
"Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
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