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Deepak Lal: Post-reform rent-seeking
The continuing ‘monopoly rents’ generated in the labour market are much more damaging to growth than other forms of rent The daily revelation of various scams suggests rent-seeking is alive in India. In fact, one of the puzzles about economic liberalisation was how it could occur in a country, which, for nearly four decades, had created an equilibrium of rent-seeking interests which had mired the
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