Tuesday, September 11, 2012

Yves Smith — Getting Economics to Acknowledge Rentier Finance (Michael Hudson-Dirk Bezemer)

A new paper by Michael Hudson (University of Missouri at Kansas City) and Dirk Bezemer (University of Groningen, Netherlands) makes an important contribution by looking at financial services from a Classical economics perspective. Classical economists took a decidedly dim view of what they saw as unproductive rent-seeking, with “rent” seen as the dead hand of the feudal aristocracy weighing on current production...
Naked Capitalism
Getting Economics to Acknowledge Rentier Finance
Yves Smith

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