We all know people who try to get something for nothing, right? If we’re honest, we’ve all been that person at some point in our lives. In economics, this behavior is known as rent-seeking. It occurs when a person or business makes money without providing any benefit to society.
Instead of adding value and collecting their fair share, they manipulate the political or social environment to secure a larger slice of the pie for themselves. Even in the cutthroat world of capitalism, rent-seeking is frowned upon. Unfortunately, rent-seeking also manifests in our personal lives—both in how we treat others and ourselves.
Living this way doesn’t make sense. Eventually, those around you will realize that you’re exploiting them for your own gain, and they will distance themselves. On a personal level, rent-seeking typically means sacrificing your future self for immediate gratification—a strategy that eventually catches up to you.
1. Excessive Screen Time 2. Chasing Status Symbols 3.
Sharing Juicy Gossip 4. Over-Indulging in Tasty Treats 5. Neglecting Your Share of Responsibilities 6.
Manipulating Others Emotionally 7. Networking for Personal Advantage 8. Using Flattery to Get What You Want Being able to recognize the behavioral tendencies of rent-seeking may empower you to head them off at the pass.
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