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Rent-Securing by the Nation-States and Rent Destruction by Globalization

  • Péter MihályiEmail author
  • Iván Szelényi
Chapter

Abstract

We live in an epoch when forces of globalization, free cross-national movement of capital, goods and labor have been gaining ground, but at the same time, they are being met with increasing resistance by nation-states. Rents became suddenly visible and thus undeniable, as third parties like the Chinese or Indian workers claimed them at the expense of shareholders and workers in the core countries. This chapter is focusing on this rent-destructing impact of globalization. In 2016, Donald Trump won the elections to a large extent by votes from white workers who lost jobs or had to accept lower incomes due to globalization and immigration, which in turn led to the fast improvement of living standards in many other parts of the world (including Eastern Europe and Russia).

Keywords

Global inequalities Anti-globalization movements Protectionism Anti-migration ideologies Multi-culturalism Rent-destruction 

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Department of MacroeconomicsCorvinus University of BudapestBudapestHungary
  2. 2.Central European UniversityBudapestHungary
  3. 3.Yale UniversityNew HavenUSA
  4. 4.New York UniversityAbu DhabiUAE

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