Class, assets and work in rentier capitalism

Abstract

'Rentier capitalism' is the term increasingly used to describe economies dominated by rentiers, rents, and rent-generating assets. A growing body of scholarship considers how the ownership of such assets by individuals and households is reshaping patterns of class and inequality and accordingly requires the reconceptualisation of the latter phenomena. The significance of company-owned assets and corporate rents for class, inequality and their conceptualisation has not been considered, however. This article offers an exploratory investigation along these lines, highlighting the importance of employees' working relationship to company-owned, rent-generating assets for their class position. The article further reflects on how developments in this regard might be approached from the perspective of Marx's writing on value, labour and class, and the challenges that those developments potentially pose to Marxian concepts.