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Making Capitalism Great Again? A Critique of the “Rentier Takeover” Thesis (redsails.org)

submitted 10 months ago by [email protected] to c/[email protected]

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what do y'all think of this? It makes some good points and Micheal Hudson is probably not right, but I have one criticism to make. One of his arguments that the richest people are still industrial capitalists (because they started businesses that do stuff), not finance capitalists, but as Cory Doctorow points out, those companies are basically just rentiers at this point. Amazon makes most of its money hosting other businesses on their site, "Meta" makes most of its money hosting being a middleman connecting advertisers and unpaid content creators poorly. Thus, it seems at least the emperial core has increased rentierism. This doesn't mean it's not built on peripheral industry and that reindustrializing the west would benefit average people, but it does seem to be good news about the decline of empire. Other thoughts?

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[–] [email protected] 5 points 10 months ago

sure inaccurate phrasing worth clarifying, i did reference most of the stuff on there is reposts and translation in another comment