Rent seeking is defined as when resources are spent to obtain rents, which derives from an activity that has negative social value. Lobbying falls under the rent seeking umbrella. The term lobbyists generally has a negative connotation surrounding it, and people often question the need for lobbyists. There has even been talk about banning lobbyists due to the shadiness that can be associated with the "industry." But, "...lobbying is not only constitutionally protected, it's fundamental to a working Republic. Lobbying gives people the power to petition the government." With an essential part of the government, Congress, and the law on its side, lobbying will not be going anywhere. Since lobbying will continue to be around, let's see how successful it is.
Corporate lobbying has the highest return on investment. When a corporation spends one dollar on lobbying, they receive on average 760 dollars in federal support and tax savings. Based on that statistic, the return on on investment within corporate lobbying is calculated to be 76,000%! The lobbying process is inefficient and has negative social value since the lobbyists time, efforts, and resources could be better utilized by society elsewhere. However, it helps the people in an immense way who control the power to change the system. There are citizens trying to fight the system through petitions and get rid of the corruption that oftentimes goes along with lobbying. But, they are fighting an uphill battle. The dead weight losses and inefficiencies will continue until the individuals and corporations with political power stop making money hand over fight via lobbying.
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