“When an industry is only profitable with government backing it means that the industry uses resources — labor, energy, raw materials — and turns them into finished products that are worth less than the inputs required to make them. The more of these zombie industries the government supports, the poorer the society becomes. ‘Rentier’ is a French word that has leaked into English. It describes people who have found a way to exploit the system for their own benefit — people who have legal entitlements to income streams. In other words, ‘Rentier’ describes a class of folks who contribute absolutely nothing to national prosperity — zombies.”
formerly http://www.thedailybell.com/28552/Bill-Bonner-Zombie-Nation
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