DOJ Consults Nvidia's Critics In Its Shameful Attack

Rent-seeking is the process by which market actors pursue economic advantage through political means. It is the competition that occurs on Capitol Hill and in stuffy administrative buildings, far from the marketplace. Steel manufacturers lobby for steel tariffs, large corporations for red tape that will hinder competitive startups, and unions for occupational licensing — just to name a few examples. The tradition of rent-seeking is old and inglorious, and it presumably will persist so long as there are governments to regulate and markets to be regulated.