Rentier Capitalism: Who Owns the Economy, and Who Pays for It?

In his book "The New Enclosure," Brett Christophers examines the emergence of rentier capitalism in the early 21st century, where a small elite owns key assets and dominates the economy, leading to vast inequalities and economic stagnation. He provides a forensic examination of the UK case, which is indispensable to understanding and overcoming this phenomenon.

Format: Paperback / softback
Length: 512 pages
Publication date: 14 June 2022
Publisher: Verso Books

In this groundbreaking book, the author of "The New Enclosure" delves into a forensic examination and comprehensive critique of early-twenty-first-century capitalism, presenting it as "rentier capitalism." This economic model revolves around the ownership of critical scarce assets, including land, intellectual property, natural resources, and digital platforms, which are predominantly controlled by a small elite of immensely wealthy companies and individuals. According to Brett Christophers, this concentration of ownership leads to a situation where everyone else bears the financial burden, creating vast inequalities and entrenched economic stagnation.

The United Kingdom serves as a poignant example of the stark manifestations of rentier capitalism, where the typical ills of this economic system are on full display. These include profound disparities and persistent economic stagnation, which have ultimately driven the country towards the precipice of Brexit. Christophers' examination of the UK case is of paramount importance for those seeking to understand this insidious economic phenomenon and overcome its detrimental effects.

"Rentier capitalism" is a concept that has been frequently invoked but has yet to receive thorough analysis and illumination. In this book, Christophers presents a comprehensive exploration of rentier capitalism, shedding light on its various dimensions and manifestations. He delves into the historical roots, economic implications, and social consequences of this economic model, providing a comprehensive understanding of its impact on societies worldwide.

One of the key insights of Christophers' book is the recognition of the role of government policies in perpetuating rentier capitalism. He argues that governments often prioritize the interests of a small elite over the broader public, allowing them to capture the benefits of economic growth and asset ownership. This leads to a concentration of wealth and power, which further exacerbates economic inequality and stagnation.

Furthermore, Christophers highlights the social consequences of rentier capitalism. He argues that the concentration of wealth and power in the hands of a few leads to a decline in social mobility, reduced social cohesion, and a lack of opportunities for ordinary people. This creates a sense of frustration and disillusionment among the population, which can ultimately lead to political instability and social unrest.

To address the challenges posed by rentier capitalism, Christophers offers several recommendations. He advocates for policies that promote economic diversity, such as investing in education and infrastructure, promoting entrepreneurship, and implementing progressive taxation policies. He also calls for greater regulation of the financial sector, to prevent excessive speculation and prevent the accumulation of wealth by a few.

In conclusion, "Rentier Capitalism: The End of Economic Growth and the Rise of Inequality" is a thought-provoking and indispensable book for anyone interested in understanding the dynamics of contemporary capitalism. Brett Christophers' comprehensive analysis provides a valuable insight into the origins, consequences, and potential solutions to the challenges posed by rentier capitalism. This book is a must-read for policymakers, economists, and social activists seeking to create a more equitable and sustainable economic future.

Weight: 464g
Dimension: 140 x 208 x 37 (mm)
ISBN-13: 9781788739757