Chief of the rentier class and his economic transformation

Chief of the rentier class and his economic transformation - by Sakmongkol AK47 (TMI)

— Sakmongkol AK47 The Malaysian Insider Jul 05, 2012 JULY 5 — In practical sense, the term rent-seeking or rent-seeker or rentier classs, refers to the activity by some people in capturing offices of state and using the power of the state to capture economic benefits. So, the rentier class consists of the people making use of their official and political positions to capture economic benefits. They get these benefits not by actually providing or actually producing a service or product, but by virtue of holding a political or bureaucratic position. So what? So the above arrangement leads to disparities in income not due to natural abilities or difference in character. Such arrangement becomes objectionable and unconscionable when the disparities in income do not arise because of abilities or character. The lazybones and laggards get ahead of the industrious and those more c...

Full article: http://blog.limkitsiang.com/2012/07/07/chief-of-the-renti...

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