Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Rentier Staate Issue

Rentierism Revisited, By Dr. Faleh Abdul Jabar (1946-2018)*

Concepts of rentierism or the rentier state gained wider circulation in political sciences since at least early 1970s, despite its old economic origin. Rent in classical political economy is one of three basic modes of income that coincides with three major factors of production, as laid out by Adam Smith; and these are:

Capital = Profit

Labor = Wages

Land= Rent.

Profit and wages were conceived of as original sources of added, or newly created, wealth, because they involved labor, live labor exerted by the workers, and accumulated, materialized labor (in the form of instruments, machinery, buildings and tools), deployed by entrepreneurs; rent appeared derivative.

To continue reading please download PDF. Click on the following link

Falih Jabbar- Rentierism Revisited-reformated for IEN Website

Comment here

%d bloggers like this: