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Rent-Seeking and Global Conflict

National governments originate historically to acquire, hold and police land. Other functions are assumed later, but sovereignty over land is always the first business. Private parties hold land from the sovereign: every chain of title goes back to a grantor who originally seized the land.
When economists today speak of “rent—seeking” they usually are thinking not of basic land rent, but in . . . → Read More: Rent-Seeking and Global Conflict