Tag Archives: rentierism

Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismRadical imagination and the intellectual edificeJim Vrettos interviews Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

Transcript of an interview about Thomas Piketty's latest book,  Capital and Ideology.Fast CompanyThomas Piketty explains why the world is ripe for ‘participatory socialism’ Marcus Baram interviews Thomas Piketty

Finally taking on economic rent, and financial rent in particular. This is not capitalism, which is about productive investment based on risk-taking, but rather rentier oligarchy based on expropriation through rent extraction. Rentiers are free riders on the systems. Martin Wolf uses his Financial Times bully pulpit to attack it before the parasites kill the host (ht Michael Hudson).Naked CapitalismThe Financial Times’ Martin Wolf Discovers that Rentier Capitalism and Financialization...

Keeper Keynes quote.The reference is "Economic Possibilities for our Grandchildren," Section II, in John Maynard Keynes, Essays in Persuasion, New York: W. W. Norton & Co., 1963, pp. 358-373.Lars P. Syll’s BlogMoney in perspective Lars P. Syll | Professor, Malmo UniversitySee alsoIdeological through and through, because economics is joined at the hip with political economy, and, in fact, used to be called political economy. Political economic is, of course, joined at the hip with...

President Trump presented his infrastructure plan last week. If you’re keen on the idea of out-of-control privatized utilities gouging customers and manipulating energy markets, or consortia building overpriced, expensive toll roads (until they go bust), then you’ll love the president’s proposals. His mooted public-private partnerships are another variant of socialism for the rich and free market discipline for the rest of us. PPPs are like a religion that offers its adherents the promise...

A new paper challenges Thomas Piketty’s portrayal of an income distribution dominated at the top by passive rentiers who do nothing to earn their money, arguing that income inequality in America today is driven by the working rich. ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessWho Are the Top 1 Percent in America? The Answer from New Research Might Surprise You Samantha Eyler-Driscoll

… as the authors of the new report from the United Nations Conference on Trade and Development have explained, there is a growing concern that increasing market concentration in leading sectors of the global economy and the growing market and lobbying powers of dominant corporations are creating a new form of global rentier capitalism to the detriment of balanced and inclusive growth for the many. And they’re not just talking about financial rentier incomes, which has been the focus of...

Earlier this year, a Stigler Center paper by Luigi Zingales [Faculty Director of the Stigler Center and one of the editors of this blog] argued that market concentration can lead to a vicious circle, in which companies use market power to gain political power that in turn allows them to gain more market power, and vice versa. Zingales called this the “Medici vicious circle”: “Money is used to gain political power and political power is then used to make more money.”A new UN report shows...

Socialism a century ago seemed to be the wave of the future. There were various schools of socialism, but the common ideal was to guarantee support for basic needs, and for state ownership to free society from landlords, predatory banking and monopolies. In the West these hopes are now much further away than they seemed in 1917. Land and natural resources, basic infrastructure monopolies, health care and pensions have been increasingly privatized and financialized. Instead of Germany and...