senior memebres
 

what are the rent based economies???????

[B][COLOR="DarkSlateBlue"]“It’s basically any sector where raw materials are exploited, produced and sold by foreign companies and what they bring the country is a rent payment or the right to exploit it.”
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for more details check this link

[url=http://www.informaworld.com/smpp/section~db=all~content=a913102981~fulltext=713240928~dontcount=true]The culture of rent, factionalism, and corruption: a political economy of rent in the Arab World - Contemporary Arab Affairs[/url]

[B][SIZE="3"]Rent Based Economy/ Economic Rent[/SIZE][/B]

[B][COLOR="indigo"]Economic rent is the minimum amount of money that some owner must receive in order to use an asset for a given purpose[/COLOR]. In labor terms, it is the reservation wage of the individual, which is the minimum amount of wages that the person must receive in order to work. In capital and land terms, economic rent is the amount of money needed to breakeven when either land or capital is used for any given purpose.
[COLOR="Indigo"]in current scenario Lebnon is one the rent based economy[/COLOR][/B]