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Rentier |
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Rentier 1. A person who makes most or all of his/her income from the rental or property. 2. A state or government that has access to a great deal of liquidity and uses it to maintain hegemony over its population. For example, it may provide free or inexpensive health care using its excess money. Rentier states rarely assess taxes, and often acquire their liquidity through the sale of their natural resources, such as oil. Citizens of rentier states often (though not always) have little loyalty to these countries, which may go through difficult transition periods when the natural resources run out. See also: Rents. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | Any casual analysis by a decent economist would discover that much of what is considered as "economic activity" in Lebanon is rentier economy: real estate (hence the booming construction to meet ex-pats and Gulf Arabs demand), bank deposits, short-term investments, speculative activities, etc. First, rentier effects; when a state can generate large revenues from relatively few easily controlled resources they do not have to rely on taxation to fund government spending, therefore citizens have less incentive to develop effective methods of scrutiny to make sure government money is being spent effectively; it may be easier for the government to violently suppress opposition or to buy compliance from opponents rather than through provision of decent public services. Most likely he took as his standard of sufficiency the bourgeois rentier income of his day, which was about ten times that of the average worker. |
Rentier |
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