"Rent-Seeking": When an individual or an assembled group of people act to accumulate wealth, in some form, without any benefit to society. (More on that below.)
"Criminal Enterprise": One legal definition is: "[A] group of persons sharing a common purpose of engaging in criminal conduct, associated in an ascertainable structure distinct from a pattern of criminal activity, and with a continuity of existence, structure and criminal purpose beyond the scope of individual criminal incidents."
Rent seeking takes other forms such as bribery, corruption, smuggling, and black markets
The term "Rent-Seeking," as applied in a political context with potential nefarious intent, was coined by two prominent economists.
In 1967, Professor of Law & Economics, George Mason University, Gordon Tullock, defined rent seeking as profits gained through a political process rather than the market process of exchange.
He wrote: "My suggestion is that we use the term "rent-seeking" (and I always have) solely for cases in which whatever is proposed has a negative social impact." (Excerpt from "The Welfare Costs of Tariffs, Monopolies, and Theft," Western Economic Journal, 1967).
In 1974, Professor of Economics, University of Minnesota, Anne O. Kruger, wrote an article for the American Economic Review entitled "The Political Economy of the Rent-Seeking Society".
She began with: "In many market-oriented economies, government restrictions upon economic activity are pervasive facts of life. These restrictions give rise to rents of a variety of forms, and people often compete for rent. Sometimes such competition is perfectly legal. In other instances, rent seeking takes other forms such as bribery, corruption, smuggling, and black markets."
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Joe Biden used his political offices as Vice President, and then President of the United States, to exploit opportunities for international rent-seeking in both Ukraine and China
Americans ask how some long-serving politicians, neither born into nor having inherited wealth, are able to accumulate a fortune based on their government salaries.
Today, some wonder about the affluence of America's current President – a gifted international rent-seeker. But it's no mystery.
Joe Biden used his political offices as Vice President, and then President of the United States, to exploit opportunities for international rent-seeking in both Ukraine and China. And, perhaps, elsewhere.
In his accumulation of wealth, Biden played the Don, the "Big Guy," of a Mafia-like syndicate that involves family members and their friends, to advance his and their increase in wealth.
His role as the chosen leader of America's Democratic Party, engaged in international rent-seeking, established him as the principal in a criminal enterprise.
And, with Hunter Biden's involvement in China, Joe Biden's criminal activities reached the level of treasonous behavior.
Lee Cary——Bio and Archives
Since November 2007, Lee Cary has written hundreds of articles for several websites including the American Thinker, and Breitbart’s Big Journalism and Big Government (as “Archy Cary”). and the Canada Free Press. Cary’s work was quoted on national television (Sean Hannity) and on nationally syndicated radio (Rush Limbaugh, Mark Levin). His articles have posted on the aggregate sites Drudge Report, Whatfinger, Lucianne, Free Republic, and Real Clear Politics. He holds a Doctorate in Theology from Garrett Theological Seminary in Evanston, IL, is a veteran of the US Army Military Intelligence in Vietnam assigned to the [strong]Phoenix Program[/strong]. He lives in Texas.
