What Is Economic Interest Group?

What Is Economic Interest Group?

An economic interest group is a collection of people with common interests and concerns that advocate for economic benefit for the members of the group. Common types of economic interest groups are business groups, labor organizations and professional associations.

The other types of interest groups are public-interest groups and single-issue groups. Public-interest groups advocate to protect the rights, resources and freedoms of all citizens. Ralph Nader was the first to create a public-interest group when he created the group Public Citizen in 1960.

Single-issue groups advocate a particular issue, focusing all resources towards the cause. These groups support certain views in social, political or economic issues, such as the legality of abortion or immigration laws.