definition
Rent seeking means exploiting a power position to extract wealth from others, and the professional managerial class turns to rent seeking and worker exploitation when the corporation is in trouble.
Topic brief
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PMC
Rent seeking means exploiting a power position to extract wealth from others, and the professional managerial class turns to rent seeking and worker exploitation when the corporation is in trouble.
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Key Notes
Timestamped Evidence
Transcript
"It's in debt. Okay? So, at this point, what happens is this. You would think the managers would save the families. Listen, guys. We..."
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"You can work in the court system. So, if you want to sue someone or if you have a contract dispute, you have to..."
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"...for them is something called the professional manager. Professional managerial class, PMC. Also, another name for them is the petty bourgeoisie. Okay? Again, you..."
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Societies do not fall because one problem gets worse in a straight line.
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