Global Rentier Capitalism

This is an excellent collection of case studies on how rentier capitalism hampers industrial growth and raises the cost structure of countries, privatising what a century ago was expected to be public infrastructure that provided basic services at subsidised prices or even freely for basic needs. This book is the first volume of its kind that looks at rentier capitalism from a global perspective, and it is a must-read for everyone interested in political economy and the crisis of today’s capitalism. It will appeal to those who want to know how rentier capitalism differs from the 19th-century ethic of industrial capitalism, which aimed at freeing the market from a landlord class and its economic rent, and from monopolies and financial overhead. The optimistic conclusion is that there is an alternative to such rentier overhead. Only by recognising its detrimental cost can economies be freed from such charges. This book is an excellent start. - Professor Michael Hudson, University of Missouri A timely and fascinating account of rentier capitalism. From early philosophers such as Aristotle, through religious prohibitions of usury, to popular writers such as Henry George, there has been deep concern about incomes derived simply through ownership. Today, rentier income is a major source of economic inequality. Whether you agree or disagree on the details, there is no doubt about the importance of the topic. - Geoffrey M. Hodgson, Emeritus Professor, Loughborough University London Entrepreneurs’ capitalism is the past. Global Rentier Capitalism deals with the central issue of rents and their main beneficiaries, rentiers and financiers. I wholeheartedly welcome this critical collection of essays. - Luiz Carlos Bresser-Pereira, Emeritus Professor, Getulio Vargas Foundation