The Concept of “Rentier States” Revisited

  • Hazem El Beblawi
Part of the International Economic Association Series book series (IEA)


The term “rent” is well established in the economic literature since the time of the fathers of Political Economy. For Adam Smith “rent”, though a source of income, is nonetheless different from other sources, in that it is not the cause of prices but, rather, the effect of them. For Ricardo, the concept of rent plays a central role in his statement of the diminishing returns. Malthus had to use it to complete his population theory. And for Marshall, rent is “the income derived from the gift of nature”.


Gross Domestic Product Financial Institution Financial Asset Arab World Allocation State 
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© International Economic Association 2016

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  • Hazem El Beblawi

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