This paper examines the problem of sustaining economic growth in light of the dangers that rent seeking poses for growth. Three types of growth are identified, and each is linked to an economic system. While any of the three may persist for a time, only one can be permanently sustained. Sector-specific interventionist policies designed to increase growth will be at least partly self-defeating over the long run because they can do little to increase the permanently sustainable type and because they generate rents and rent seeking. Inclusiveness as defined and measured below is the property of a political system that motivates government to deter destructive rent seeking. Thus inclusiveness has an increasing effect on the type of growth that is permanently sustainable.
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Paper provided by Carleton University, Department of Economics in its series Carleton Economic Papers with number
09-10.
Length: 24 pages Date of creation: 02 Nov 2009 Date of revision:
02 Nov 2009 Publication status: Published: Carleton Economic Paper Handle: RePEc:car:carecp:09-10
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