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Rentier capitalism
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Rentier capitalism is a concept in Marxist and heterodox economics to refer to rent-seeking and exploitation by companies in capitalist systems.[1][2][3] The term was developed by Austrian social geographer Hans Bobek[4] describing an economic system that was widespread in antiquity and still widespread in the Middle East, where productive investments are largely lacking and the highest possible share of income is skimmed off from ground-rents, leases and rents. Consequently, in many developing countries, rentier capitalism is an obstacle to economic development. A rentier is someone who earns income from capital without working. This is generally done through ownership of assets that generate yield (cash generated by assets), such as rental properties, shares in dividend-paying companies, or bonds that pay interest.[5]
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- ^ Peter Frase (7 July 2011). "Slouching towards rentier capitalism".
- ^ Monbiot, George (29 August 2011). "Academic publishers make Murdoch look like a socialist". The Guardian.
- ^ Dariush M. Doust (January–February 2010). "Rentier capitalism and the Iranian puzzle" (PDF). Radical Philosophy (159): 45–49.
- ^ https://ideas.repec.org/h/pal/palchp/978-1-349-05417-6_2.html Developed in the late 1950s by the Austrian geographer Hans Bobek in connection with a theory of ‘the main stages in socio-economic evolution from a geographical point of view.
- ^ Aligica, Paul Dragos; Tarko, Vlad (2014). "Crony Capitalism: Rent Seeking, Institutions and Ideology: Crony Capitalism". Kyklos. 67 (2): 156–176. doi:10.1111/kykl.12048. S2CID 154030054.
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