This paper proposes directly unproductive, profit-seeking (DUP) activities as a general concept that embraces a wide range of recently analyzed economic activities, including the subset of rent-seeking activities considered by Krueger. It then proceeds to provide a syn-thesis and generalization of the welfare-theoretic analysis of such activities by developing a fourfold categorization of cases depending on the levels of distortions before and after the DUP activity. Thus a unification and overview of the subject are achieved.
International Trade Law | Law
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Jagdish N. Bhagwati,
Directly Unproductive, Profit-seeking (DUP) Activities,
J. Pol. Econ.
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