4 Jul 2018

rentier capitalism vs free market

Rentiers are the people who live off income gained from property and other assets – above all the “0.01ers”. Good book on this is The Corruption of Capitalism (Why rentiers thrive and work does not pay) by Guy Standing:

There is a lie at the heart of global capitalism. Politicians, financiers and global bureaucrats claim to believe in free competitive markets, but have constructed the most unfree market system ever. It is corrupt because income is channelled to the owners of property – financial, physical and intellectual – at the expense of society.
How can politicians look into TV cameras and say we have a free market system when patents guarantee monopoly incomes for twenty years, preventing anyone from competing? How can they claim there are free markets when copyright rules give a guaranteed income for seventy years after a person’s death? How can they claim free markets exist when one person or company is given a subsidy and not others, or when they sell off the commons that belong to all of us, at a discount, to a favoured individual or company…
Read the Preface or see review at www.bitebackpublishing.com/books/the-corruption-of-capitalism and related blog at www.opendemocracy.net/guy-standing/we-must-combat-rentier-capitalism.

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