&quot;... for the creation of consumer surplus.&quot;<p>Adam Smith describes mercantilism, which is nearly pure rent-seeking and capitalism. which is oh so much less so.<p>If you have a royal patent on all beaver pelts from the New World - to where your corporation can order the sinking of ships carrying contraband beaver pelts - then this is nearly pure rent-seeking.<p>Rent seeking grows like weeds at the edges of capitalism, but it is not, strictly speaking, capitalist but rather that which capitalism replaces.<p>This may seem pedantic but it&#x27;s actually pretty useful.