Earlier quoted context omitted.
Let's just play economist and call it http://en.wikipedia.org/wiki/Rent_seeking > In public choice theory, rent-seeking is spending wealth on political lobbying to increase one's share of existing wealth without creating wealth. The effects of rent-seeking are reduced economic efficiency through poor allocation of resources, reduced wealth creation, lost government revenue, national decline, and income inequality. Cu…
The term "rent-seeking" is accurate within the study of economics, but is bound not to be understood accurately by lots of non-economists. It resembles a competing, everyday meaning that is inocuous: buying a property or other asset and renting it out is a valuable service, whereas "rent-seeking" is destructive. The term is economists' jargon that euphemizes the problem. If I were the chief of the rent-seeking lobby,…
I think the above poster had it correct; refer to it as "crony capitalism" to non-economists.