Rent Seeking Behavior in the Indian Economy

Abstract

Rent seeking Behaviour, is an economic concept, that occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity. The concept is devised from Adam Smith’s ideologies. Here, rent refers to wealth derived from potentially unethical sources or means. Such income is low risk and is easier to obtain. Rent-seeking widely impacts our society in multiple ways. The following research paper aims to analyse the impact of Rent Seeking in the economy from an Indian perspective. Keywords: Rent, Wealth, Unemployment, Caste, Game theory, Gender, Entrepreneurship