NNA - President of the Republic, Michel Aoun, on Wednesday stressed that Lebanon will emerge from the current economic crisis, which resulted from the accumulation of predicaments over thirty years, including the adoption of the rentier
"The Venezuelan oil rentier
was left behind, we are striving for a new Venezuela diversified in its capacity for creation and production," he added.
Among the topics are democratizing economics in a post-truth world, a British Green New Deal to secure a future, democratic ownership in the new economy, debt dependence and the financialization of everyday life, and rentier
capitalism and the precariat: the case for a common fund.
Several Middle Eastern economies effectively built rentier
economies, first built on oil extraction, and extending over time to a variant of the rentier
model focused on achieving growth, driven by expatriate-owned businesses.
Such is the nature of a rentier
state, which must maintain a monopoly over the means of production and the creation of wealth in order to control the population.
"As a rentier
state, the government's plan to transform into a knowledge-based economy by investing in -- among other things -- the business of sports, makes it a very interesting case to explore.
We have elevated the issue to the board; it is now in the court of the concerned rentier
Saudi Arabia went through a boom-and-bust cycle as oil revenues fell from SR 368bn in 1981 to SR 74bn in 1986, causing huge drops in the fund's reserves and negatively affecting the standard of living, according to a 2009 study titled "Rentier
Exceptionalism, Oil and Political Mobilisation in Saudi Arabia." A rentier
state is one that derives all or a substantial portion of national revenues from indigenous resources.
"We all have a lot of work to do to create a conducive environment for investment, simplify procedures, fighting bureaucracy, moving away from the rentier
state, reducing dependence on oil as a single source of national income, diversifying sources of income and going to the private sector and real productive sectors," he said.
'For years, the PDP had been a bastion of corruption and impunity and it is difficult for them to change from their rentier
way of life in the nation's affairs.
The lopsided pre-war merchant republic was recycled, producing a postwar rentier
economy anchored on largely nonproductive tourism, real estate, and financial sectors, regressive tax rates, and depressed wages.
Bombing a poor country's infrastructure, murdering and starving its defenseless civilians, blockading its ports, and hobbling its struggling economy are hardly ways of ensuring security for the Arab rentier