The Economics Behind Lobbying Explained in One Minute: From Meaning/Definition to Examples

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Few things are more controversial than lobbying in the world of economics, politics and so on.

Some people believe lobbying is a perfectly reasonable alternative to corruption, because at least you have a (somewhat) transparent framework when it comes to various entities trying to promote whichever agendas they have in mind.

Other folks, however, believe "lobbying" is a word that needs to be eliminated from the dictionary and that everything about the practice is deeply unethical. Who is right? Or perhaps this is one of those situations where the truth is somewhere in the middle?

Let's find out.

In one minute, lobbying has been explained in a fairly thorough manner. You'll find out what the definition of "lobbying" is (the meaning of the term) and what the concept is all about, through (among other things) carefully-chosen examples.

At the end of the day, you could spend ten hours watching an exhaustive lobbying explanation but... frankly, one minute is more than enough for it to become crystal clear what it's all about and what you need to know about the lobby "phenomenon" :)

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OneMinuteEconomics
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Lobbying should be a crime, or at least should be banned. All it does is make corruption legal and democracy impossible. Unfettered lobbying would always lead the oligarchy.

Draconatus
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Watch this in 2x speed for maximum effect

jeffjones
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Paid lobbying, at its core, gives political power to money which betrays every ideal that democracy stands for.

brianc
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Great video! Thank you so much for creating such an informative and easily understandable explanation of lobbying. You broke down the complex concept in a way that anyone can grasp. Your effort in simplifying the topic is greatly appreciated. Keep up the excellent work!

notacodingchannel
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The economics of lobbying has a lot more to it. You could spend weeks at a library on the subject and never read the same thing twice. Why don't consumer groups get more of a voice?

sheppytim
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"Lobbying is inevitable" talk about losing the war without firing a shot.

ForcesOfFreedomAndFascism
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There needs to be an easier and more straightforward way for the average individual to crowdfund lobbying based on specific issues or bills that they want passed. Personally I'd be willing to contribute at least $300 towards deincentivizing public trading through more taxes and incentivizing private ownership through less taxes. Lobbying is only a bad thing when the average individual does not participate.

samgee
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Agreed thanks for the very simple and yet very informative video, where some tend to waffle on and on and the answer gets lost to the void all together.

hadesdogs
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you vote for people who are supposed to represent you, but instead you vote for the people who will get "lobbied" to represent the interest of the rich.

GemayelDaniel
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In a rico case is lobbying any good for anyone apart of or any company that is lobbying during a rico is Rico????

PressEntertainmentLLC
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Why so fast? The speed control on YT isn't working. Ugh.

m.k.
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You explained in 1 minute why we have no democracy. Not everyone has the same voting power = no democracy. The absolutely only exception is the voting of a president. So you are equal for 1 Minute and unequal for 364 days

Jeed
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So, basically, a nice word or synonym for bribery.

johnnopeyy
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The problem isnt just the lobbyists but the system as a whole where those with a vested and financial interest has the largest fingers or hands in the proverbial cookie jar and that’s destroying small businesses and the west as a whole as they seek to push personal gain and benefits rather than to support or help those who they’re supposed to be supporting or representing such as the US healthcare systems which I’m not against private healthcare or any of that stuff and personally I don’t see a problem with private healthcare systems since at the end of the day they are privately owned and their main goal and purpose, the same with Insurance companies is to make money at the end of the day, the same way how shops can’t just give out free food to every homeless person they come across and the same goes for healthcare companies being again a business at the end of the day, however and unfortunately it does mean that at the end of the day all that matters to them isn’t the quality but their bottom line, that being said whilst I do love our healthcare system here in the UK being primarily a public system, it does mean that taxes and prices tend to be more expensive and the quality of healthcare tends to be subpar, compared to the US the UK beats the US in terms of accessibility and availability, but tends to fall short on the more higher quality treatments along with the fact that doctors are required to follow UK government guidelines, such as when Covid hit, doctors weren’t allowed to give CPR to patients in fear of catching Covid and so unfortunately many people who needed revival treatments were unfortunately refused along with other medical problems being pushed further back as other problems tend to arise where things like cancer treatments may take much longer than they would do anywhere else again due to the massive backlog of patients and this In turn, causes other complications such as again anal cancer or early stages of cancers which can be easily prevented and treated but due to the massive waiting list, a person could easily die due to neglect or further complications during that waiting period and again personally speaking about the UK healthcare systems, only those who pay taxes should get given priority or access to the healthcare system and those who don’t pay taxes should be required to pay a fee (nothing extreme it’s just so that they don’t end up using and abusing the system because no offense but many people come to the UK, because the healthcare is free and cheap, and again the price shouldn’t be extortionate or super high but should also help cover the cost of running and maintaining the NHS)

hadesdogs
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Just because is legal, doesn’t mean it isn’t corruption

laughingvampire
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Lobbying compared to coruption, doesnt coruption have collateral issues for everyone and the state.
Ssort of explance the hostility and inefishancy maybe stagnation and consumer coersion back firing to.
Unique! A BETTER word might be not trying.

MG-frtn
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Literally unwatchable. How do I slow the video down?

TonyWayne
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Guys is this the root of all (most) problems?

michele_
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One of Flordas congress men got a 700k check paid privit jet flights and 2 momth in a manchin in mexico just for rooling back helth and welthfair regulations to help the corprit doctors the courts ruled they where just close friends and he wasent bribed just a ffriendly gift lol

ctckean