Rentier capitalism

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    A rentier state can be defined as a state that “derive[s] most or a substantial part of [its] revenues from the outside world and the functioning of [its] political system depend[s] to a large degree on accruing external revenues that can be classified as rents” (Schwarz 604). Rentier states are heavily concentrated in Latin America, the Middle East, and Sub-Saharan Africa. The similarities of the rentier economies in these three regions vastly outweigh the differences as they are all plagued with the two classic problems all rentier economies face: economic dependence and vulnerability due to the boom and bust cycle. There are some nuanced differences between the economies in the regions, such as Dutch Disease occurring at a higher rate in…

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    and strength of capitalist economy. The last chapter of the book, chapter 24 begins with the statement that the biggest and foremost problems of capitalism are “its failure to provide for full employment, and its arbitrary and inequitable distribution of wealth and incomes.” Keynes ends up suggesting an active role of government to intervene with fiscal and monetary policy to keep down the interest rate, which would ultimately lead to the “euthanasia of the rentier”. He considers this as a…

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    Adam's Fallacy Summary

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    Adam’s Fallacy: A Guide to Economic Theology Adam Smith’s book The Wealth of Nations is not noteworthy because it introduces any radical new ideas on capitalism, but rather because it gives a clear case of the possibility of a capitalist society developing, and more importantly undertakes the biggest problem capitalism has, at least in the eyes of Foley. “The question of how to be a good person and live a good and moral life within the antagonistic, impersonal, and self-regarding social…

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    The weakness of the liberal order lies within the assumption that actors in the global market are purely motivated by economic rather than political objectives. This essay does not suggest that Russia is a unique case of “state capitalism”, but rather an example of a powerful state-owned multinational’s methods in influencing European politics. Gazprom’s strategy can be described as being founded on the premise that it runs in an oligopolistic market where its business decisions can have a…

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    of Karl Marx’s book about communism and capitalism.) Who got us working with the communist idea? There are many who wrote about it, but a man named Karl Marx had a strong opinion about it. Karl Marx began studying at the University of Bonn, he had two semesters there. Then he was imprisoned for disturbing the peace, then after he went to the University of Berlin. He received his doctorate from the University of Jena and began working as a journalist. Soon that place was closed and he went on to…

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    In this essay we will examine the relationship between globalization and westernization, and whether or not they are equal to each other and whether the advance of westernization is helpful or problematic for the societies. Westernization is the changing from the traditional cultural to the western dominance and western imperialism, but globalization is infect the tendency in which technologies, philosophical and economic advances can be made throughout the world with a global time zone and…

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    practices of the meatpacking companies, and the evils of American capitalism opposed to the benefits of American socialism. One of…

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    contemporary observer of the harsh economic conditions that he experienced through his family’s own cotton firm in Manchester. In this argument, Boyer shows how Engels subjectively defines capitalism through his own personal interactions subjective assumptions about industrial development in England’s urban centers: “ The living conditions in these cities was horrible” (155). More so, Boyer (1998) interjects with data collected by Asa Briggs (1963) that defines the error of Engels’ assumption…

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    Capitalism has managed, using modern advertising and marketing tactics, to maintain a strict hold on sexuality and gender in order to facilitate the exchanging of commodities; though social progress has allowed for the inclusion of more diversified gender and sexuality spectrums into the mainstream, these spectrums are still defined by Capitalist enterprise, and our social, sexual and gender based ideologies are given definition by the advertising Capitalism uses to provide commodities with…

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    Karl Marx's Philosophy

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    Karl Marx began a philosophical revolution. Although rejecting the legacy of philosophy completely, he spent his life developing a radical idea which focused on the material world and the economic forces which drive it. Central to his thought, is that our consciousness is determined by our material reality and that history proceeds from material change. Essentially, class struggle is the engine of history, and has been responsible for slavery, feudalism, and modern capitalism. Marx’s historical…

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