Tag: Regulation
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Disintermediation
Disintermediation removes intermediaries from transaction processes, enabling direct links between producers and consumers. Initially seen in finance, its relevance has expanded with technological progress, influencing sectors such as retail and media.
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Negative Externalities
Economic activities can impose unaccounted-for costs on society, known as negative externalities. These inefficiencies often lead to government interventions and have widespread implications, affecting issues as significant as climate change and public health.
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Rent-Seeking
Rent-seeking is when someone tries to get a larger slice of the wealth pie, instead of making the pie bigger. It can lead to unfair advantages and slow economic growth. It’s hard to distinguish from normal business, impacts innovation, and can create income inequality, especially in countries with weak governance.