Eliminate the system of licenses for peanut fanning

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Question: The discussion of rent-seeking in this chapter noted that peanuts cannot be grown without licenses. The licenses can be sold to non-fanners, and in fact, many of them am currently owned by firms that have nothing to do with fanning, such as insurance companies. Does this fact affect your view of whether or not it would be fair to eliminate the system of licenses for peanut fanning? Include in your answer a discussion of the price that owners of the licenses have to pay for them.

Reference no: EM131499926

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