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.
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To compensate for these great disparities in society and to protect the position of the parasitical rentier ruling class, the latter pursues alliances with, multi-billion dollar arms corporations, and military protection from the dominant (USA) imperial power.
The rentier class-clans are pressured by the international financial institutions and local bankers to 'reform' their economies: 'open' the domestic market and public enterprises to foreign investors and reduce deficits resulting from the global crises by introducing neo-liberal reforms (Economic and Political Weekly, 2/12/11, p.
Gradually, governments had to offer much more than went with economic liberal rules, to both rentiers and to populations.
The problem facing us now, however, is that the new, unholy settlement between 'the state' (and its now questionable sovereign monetary space), the banks, rentier-money management firms and SWF, and the unprecedented numbers of rentiers (however pitifully modest their holdings) and lowly debtors, remains.
Unlike the working rich, rentiers have no real need for educated work forces (as opposed to domestics), public infrastructure, or even government data on economic and business trends; thus, they display a rabid opposition to taxes of any kind.
Perhaps worst of all, these rentiers have almost unlimited resources and time to spend on politics--and spend them they do.