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Lobbying depends on cultivating personal relationships over many years. Photo: Lobbyist Tony Podesta (left) with former Senator Kay Hagan (center) and her husband.. Generally, lobbyists focus on trying to persuade decision-makers: Congress, executive branch agencies such as the Treasury Department and the Securities and Exchange Commission, [16] the Supreme Court, [17] and state governments ...
Lobbying is a form of advocacy, which lawfully attempts to directly influence legislators or government officials, such as regulatory agencies or judiciary. [1] Lobbying, which usually involves direct, face-to-face contact in cooperation with support staff that may not meet directly face-to-face, is done by many types of people, associations and organized groups, including individuals on a ...
Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth.
On the other hand, lobbying is a political process, a way to argue for or against legislation. It is often done in private, behind closed doors. This is very different from petitioning. In the eighteenth and nineteenth centuries, this was an open, transparent process in state legislatures, and later in Congress.
In economics, a public good (also referred to as a social good or collective good) [1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [1] Therefore, the good can be used simultaneously by more than one person. [2]
Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [ 1][ 2][ 3] is a conceptual form of power structure in which power rests with a small number of people. These people may or may not be distinguished by one or several characteristics ...
The impossible trinity (also known as the impossible trilemma, the monetary trilemma or the Unholy Trinity) is a concept in international economics and international political economy which states that it is impossible to have all three of the following at the same time: a fixed foreign exchange rate. free capital movement (absence of capital ...
In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with unfair price raises. [ 3] Although monopolies may be big businesses, size is not a characteristic of a monopoly.