Because it’s just a transfer from one person to another, rent doesn’t necessarily make an economy less efficient — it’s just often unfair. But Robert Litan and Ian Hathaway, writing in Harvard Business Review, have a more dire hypothesis. They surmised that many American entrepreneurs are no longer looking for ways to produce more useful stuff, and are instead looking for new techniques for extracting money from each other and from the government. In other words, crony capitalism may be slowly cannibalizin

Source: The Wrong Kind of Entrepreneurs Flourish in America – Bloomberg