Capitalism and the Crisis of Wealth without Development
Group formation refers to the fact that in many rentier
states (where oil and natural gas constitute over 40 percent of government revenues), there is no bourgeoisie, political society, or media independent of the government.
In the tete de page of Balzac's "Monographie du rentier
," Grandville drew the specimen of a "rentier
" skeleton exhibited among other natural species (see fig.
The downside of petrostates is that typically, they tend to authoritarianism, suffer from Dutch disease, and become ever more oil dependent; in many cases their elites indulge in rentier
behaviour, the report said.
Speaking at the opening of Broummana Hotel last night, Aoun said the political class in Lebanon turned the economy into a rentier
economy instead of a productive economy that can create jobs and achieve real growth.
He leveled criticism towards the PJD ministers for making media appearances unleashing inconsistent comments regarding the measures undertaken against corruption and rentier
Keywords: Techno-comprador; Rentier
capitalism; Dutch Disease; Resource Curse; Resource blessing
The analysis surveys the Dutch disease, rentier
state, and rent-seeking versions of the resource curse and finds they have significant shortcomings in terms of theory and evidence.
economy provides few jobs in modern productive activity; the high end is controlled by extended family-clan members and foreign financial corporations via ex-pat experts; technical and low-end employment is taken up by contract foreign labor, at income levels and working conditions below what the skilled local labor force is willing to accept.
The incoming government needs to learn how other rentier
states have maintained stability.
In addition to breeding among the national population an "uncompetitive rentier
mentality," it has threatened Dubai's national identity, something evinced, among other things, by the undermining of national values and customs, even the use of the Arabic language, in deference to the large expatriate population that has come to take up residence there (178).
In his quest to change our understanding of the politics of the resource-rich rentier
states, Dunning uses a multi-method approach--among the employed tools the reader will find field research with detailed country-by-country case studies, series of game-theoretic models, statistical analysis, and conceptual elaboration of the core idea of the 'rentier