Day 1,097: rent_seeking

Typically, it revolves around government-funded social services and social service programs.

Artwork of the day 
Pine House (Rooms for Rent)
Peter Doig
Date: 1994
Style: Magic Realism
Genre: cityscape

Word of the day 
rent-seeking: Rent seeking (or rent-seeking) is an economic concept that occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity

Quote of the day
“Further, in countries where wealth comes from rent-seeking, political patronage, or regulatory capture (which, I remind the reader, is how the powerful and the insiders use regulation to scam the public, or red tape to slow down competition), wealth is seen as zero-sum.*2”
― Nassim Nicholas Taleb, Skin in the Game: Hidden Asymmetries in Daily Life