Rent-seeking is an economic concept where individuals or businesses try to gain financial benefits without creating new wealth. Instead of producing goods or services, they focus on manipulating the system to obtain money or advantages, often through lobbying or seeking government favors. This behavior can lead to inefficiencies in the economy, as resources are diverted from productive activities. The term is often associated with political influence and regulatory capture, where companies may spend significant amounts to influence policymakers. This can result in policies that favor certain groups over others, ultimately harming competition and innovation in the market.