Uber

Rentseekers and The Free Market: Part II

In a recent example of “rentseekers” trying to eliminate competition, established taxi companies are targeting innovative companies like Uber. (Photo by Luke Roberts, via Flickr)

I watched a piece on CNN the other day that really tied the room together, in terms of the battle over America’s energy future. Recently in this space, I’ve ranted about rentseekers—established industries backed by favorable regulations that stifle innovation and thrive by maintaining the status quo. This story rides a thru-line from social innovators, like Uber and Airbnb, to the heart of the solar energy revolution, and it exposes a dilemma at the core of our economy: The free market doesn’t really exist.

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