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18:40 Jul 11, 2001
French to English translations [PRO] Bus/Financial
French term or phrase:logique rentière
Le 15 août 1971,Nixon annonce que le $n ’est plus convertible en or. Le monde passe alors d ’une logique rentière (les réserves d ’or),à une logique volatile (la valeur d ’une monnaie dépend désormais de la confiance que lui accorde le marché).
Explanation: Gold used to be tied to a fixed value backed up by gold reserves. therefore it was a hard currency with a known value. After the gold standard was removed, money became elastic and its value is linked more to confidence in the markets moreso than to a real value backed up by real assets.
Explanation: (versus a volatile, market-based system)
Guy Bray United States Local time: 08:21 Native speaker of: English PRO pts in pair: 819
Thanks to all for so many good responses!
Logic of Government Stock/ Gold/ Independent means
Explanation: Rentiere means person of independent or private means.
Logique is logic.
When the currency-value was determined on the basis of gold reserves of a country it was independent of the values of other currencies and there were few fluctations. But with the advent of the new systeme i.e. that of 'volatile logic' the values of currencies are no longer independent of the values of other currencies and are, to a large extent, governed by market forces of demand and supply of various currencies.
The New collins Robert French Dictionary
Ritu Bhanot Native speaker of: English, Hindi PRO pts in pair: 28
Explanation: If your text is quite literary, you could just keep the French word in italics, since it has passed into English circa 1847, according to Merriam Webster (rentier: "a person who lives on income from property or securities").
For a more contemporary and understandable analogy, I suggest to go for entitlement logic. The rentier is entitled to an income.
See the quote in the speech referenced below: "By entitlement logic, I mean the presumption that you and your unit deserve to continue to receive the resources you’ve received in the past."
Explanation: The term "rentier logic" is used in English in economics (see article in reference). You might prefer to translate it as "stockpile logic". In summary, the referenced article, talking about the Arab world (other articles talk about countries with similar economic bases) says that many arab countries are living off their resources rather that the wealth they create from those and other resources - the analogy is with the idle rich who live off their assets rather than put those assets to productive use. In the case of gold, the dollar use to claim its value from the stockpile of gold supporting it; now it claims its value indirectly from the productive activity of the country.
Explanation: I like Guy Bray's way of phrasing it. I agree that "rentier, -ière" (here as an adjective) is referring to private income, "un rentier / une rentière" being the person who lives from income from his/her "rentes", investments, savings, ie : private money.
Your context emphasises the contrast, an idea best rendered by Guy's turn of phrase.