The Role of Lobbying in Accelerating or Corrupting the Process of Economic Growth

The activity of lobbying in an economy is one which has numerous societal costs and benefits. The most significant effect is how far from the optimum productivity curve does it move an economy. Is the net effect a negative or positive gain in social welfare measured by standard of living and sustainable GDP per capita? Does the economy both in the short and long term, whether analysing in static or dynamic terms grow past its production frontier? The author uses a previous model developed by her of economic growth and development to analyse the entire process of lobbying in terms of its total socio-economic impact, using the GFC as an example