Student’s Name Professor’s Name Course Date Review of the Political Economy of the Rent-Seeking Society Several government regulations including import licenses in unindustrialized countries generate rents for certain market partakers. A preliminary part of this article stress on the competitive feature of rent-seeking together with the quantitative impact of rents for Turkey and India. Consequently the final section summaries some other kinds of rent-seeking and recommends certain implications of the study. Whereas the existence of such rents as well as the distortions which they make have been noted for long the key hypothesis for this article is to identify the significance of “rent-seeking actions” and utilize its welfare suggestions. The paper similarly reveal certain means where rent pursuing is competitive and the development of a simply competitive rent attain windfall gains by implementing modern technology expecting market shifts appropriately. Lastly according to the idea of Krueger the paper claims that although they can restrict competition for rents countries which regard they should execute restrictions are always in a dilemma (302). This implies that when they limit entry they are apparently presenting favoritism to a particular group in the community and are selecting an uneven income distribution. The writers assert that when rather rents competition is authorized distribution of income might be certainly and less unequal there will be the little form of favoring distinct groups even though the economic costs related with restrictions of quantitative will be higher. Work cited Krueger Anne O. 1974. “The Political Economy of the Rent-Seeking Society.” American Economic Review 64(3): 291–303. [...]
You are an analyst at the San Francisco Federal Reserve. The regional branches of the Fed all publish bulletins that contain summaries of interesting economic research. The people who read these bulletins are typically economists or other trained analysts who work at the Fed or other government offices; these are individuals who are generally too busy to read academic journal articles but who want to stay on top of the latest research. Your boss has asked you to write a summary (750-800 words = roughly 3-4 pages, 12-point and double-spaced) for the next bulletin of one of the articles from the following list: One Hundred Years of the Economic Review: The Top Twenty Articles: http://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.101.1.1 Your summary should have about a paragraph to answer each of the following questions: What is the key hypothesis tested and what are the empirical findings? How is the study connected to previous research? What economic theory/model of behavior do the authors use to form their hypothesis? What data do the authors use and what is their empirical strategy (statistical methods/case studies)? What other factors do the authors mention that should be considered in evaluating their results? Include a word count at the end of your article; note that if your article is too long, it means you will need to think hard about what can be cut but if your article is too short, you will need to think just as hard about what you might be missing. Your assignment is due 5:00 PM, March 8th. Evaluation criteria I will focus on the following specific areas when grading: Article content. Most importantly, have you summarized the paper accurately and completely? Have you accurately identified the key question(s) in the paper, and the authors’ answer(s)? Have you included all the relevant information so that an uninformed reader would have a clear idea what the article is about? Voice. Is the tone and style appropriate for this audience? Overall clarity. Are ideas clearly expressed? Any problems with basic writing (spelling, grammar, punctuation) should be fixed before grading (more than two or three typos and your paper will be returned without a grade). I will be evaluating the readability, clarity and style of the paper overall.