What is Dutch disease in economics?
Dutch disease is a shorthand way of describing the paradox which occurs when good news, such as the discovery of large oil reserves, harms a country’s broader economy.
Symptoms include a rising currency value leading to a drop in exports and a loss of jobs to other countries..
Is Nigeria a rentier state?
African states such as Nigeria, Gabon, Angola, Ghana, Uganda and South Sudan are also important oil producers with rentier economies, earning income from trading natural resources. … [r]ewards of income and wealth for the rentier do not come as the result of work but rather are the result of chance or situation.
What is a rentier society?
Rentier capitalism is a term currently used to describe the belief in economic practices of monopolization of access to any kind of property (physical, financial, intellectual, etc.) and gaining significant amounts of profit without contribution to society.
Is Venezuela a rentier state?
Since the 1920s, Venezuela has been a rentier state, offering oil as its main export. The nation has experienced hyperinflation since 2015.
What does rentier mean?
: a person who lives on income from property or securities.