Hudson: The Neo-Rentier Economy � Multiplier Effect

Hudson: The Neo-Rentier Economy � Multiplier Effect

To make a long story short, the end product of capitalism thus has become a Neo-Rentier Economy – something that Industrial Capitalism set out to replace in is Progressive Era from the late 19th century to early 20th century. A financial class now plays the role that landlords used to play: a class living off special privilege. Most economic rent now ends up being paid as interest, interrupting the circular flow between production and consumption.