Rentier-financier capitalism

Luiz Carlos Bresser-Pereira ()

No 477, Textos para discussão from FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil)

Abstract: Since the beginning of the twentieth century there are three basic social classes: the capitalist class or bourgeoisie, the working class and the professional class or technobureaucracy. In the first part of the century, the high technobureaucrats replaced the business entrepreneurs in the management of the corporations; from the 1980s, the rentier capitalist, most of them heirs, replaced the entrepreneurs in the ownership of such corporations. To manage their wealth a special class of professionals emerged, the financiers, bright people formed in the best universities, who assumed also the role of economic policymakers and of ideologues or organic intellectuals. They adopt the neoliberal ideology, and, as its justification, either the neoclassical, or the Austrian economics.

Date: 2018-05
New Economics Papers: this item is included in nep-ent, nep-his, nep-hme and nep-pke
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