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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The enclave rentier economy results in a clan-based ruling class which 'confounds' public and private ownership: what's 'state' is actually absolutist monarchs and their extended families at the top and their client tribal leader, political entourage and technocrats in the middle.
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.
Perhaps worst of all, these rentiers have almost unlimited resources and time to spend on politics--and spend them they do.
But as Luttwak writes, the rentier class has acquired values and priorities that actively work against social cohesion and even economywide growth.