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How the free market created rentiers and plutocracy in post-Soviet Central Asian countries

Sanghera, Balihar, Satybaldieva, Elmira (2020) How the free market created rentiers and plutocracy in post-Soviet Central Asian countries. . Discover Society internet article. (KAR id:80539)

Abstract

In a reversal of the classical ideal of a ‘free market’ (a market free from land rent, monopoly rent and interest), neoliberalism celebrates and promotes rent extraction, sometimes over wealth creation. Neoliberalism has created and expanded the role of rent and unearned income in post-Soviet economies. The article argues that the top 20 richest individuals in Kazakhstan and Kyrgyzstan extract income based on their ownership and control of scarce assets, and thereby obtain unearned income. They also have considerable political power and influence. Neoliberalism has concentrated wealth and power into the hands of a few, and has emerged economic and political elites into the rentier class.

Item Type: Internet publication
Uncontrolled keywords: rentier, plutocracy, power, post-Soviet and Central Asia
Subjects: H Social Sciences > HM Sociology
H Social Sciences > HS Societies: secret, benevolent, etc.
H Social Sciences > HX Socialism. Communism. Utopias. Anarchism
J Political Science
J Political Science > JC Political theory
J Political Science > JQ Political institutions and public administrations (Asia, Africa, Australia, Pacific Area, etc.)
Divisions: Central Services > Universities at Medway
Divisions > Division for the Study of Law, Society and Social Justice > School of Social Policy, Sociology and Social Research
Depositing User: Balihar Sanghera
Date Deposited: 18 Mar 2020 13:57 UTC
Last Modified: 08 Jul 2023 19:04 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/80539 (The current URI for this page, for reference purposes)

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