The article discusses how rent seeking, where people try to gain profits without creating value, can have lasting effects on society. The researchers show that when rents endure over time but may need to be re-contested or disappear due to changes in regulations, there is a social cost. This cost is measured by the present value of the contested rent, regardless of imperfect protection or deregulation. Governments' inability to commit to protecting rents or creating rent-generating policies discourages rent seeking. Lasting deregulation can also prevent a significant portion of potential rent seeking costs.