Rentier capitalism
Capitalism featuring rent-seeking without wealth creation / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Rentier capitalism?
Summarize this article for a 10 year old
Rentier capitalism is a concept in Marxist and heterodox economics to refer to rent-seeking and exploitation by companies in capitalist systems.[1][2][3] The term was developed by Austrian social-geograph Hans Bobek,[4] describing an economic system that was widespread in antiquity and still widespread in the middle east, where productive investments are largely lacking, the highest possible share of income is skimmed off from ground-rents, leases and rents and thus in many developing countries, rentier capitalism is an obstacle to economic development. A rentier is someone who earns income from capital without working. This is generally done through ownership of assets that generate yield (cash generated by assets), such as rental properties, shares in dividend paying companies, or bonds that pay interest.[5]