Using the arguments in the readings, explain how a market-oriented economic dynamic drives economic progress (wealth creation) through the process of creative destruction, and explain in explicit cause-and-effect terms how rent seeking undermines the creative destruction process.

HELPFUL HINTS How does Buchanan explain "social surplus" ("rent creation" or Kay's added value) as an outcome of an "ordered market structure"? What does John Kay mean when he says: "Market economies do not predict the future, they explore it"? Based on your answer to the previous bullet-point, how would you harmonize Buchanan's idea of an "ordered market structure" with John Kay's term "disciplined pluralism" in order to describe the process of creative destruction? Among the assigned readings, which way of defining rent-seeking do you find most intuitive? How would you harmonize your chosen definition with the idea that one form of rent-seeking equates to "organized resistance" to economic change? How would Blank, Buchanan, and Kay argue that rent-seeking in the form of organized resistance undermines the process of creative destruction?