this post was submitted on 21 Sep 2023
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News break: capitalism is on its way out. Now we have tech feudalism (enshittification as a business model). Rejoice!
That's not a separate thing, it's just capitalism in crisis because of the tendency of the rate of profit to fall
I can see why you would think that. I think this video explains it well https://www.youtube.com/watch?v=xDPPig9JR5Y.
TL;DW: Capitalism in it's true form was "I give you this, you give me that". Exchange of goods. And from that perspective, it has worked. But now that nobody sells stuff anymore but holds you or the goods you want hostage, it has devolved back to the old system of feudalism where you live somewhere and the king asks for your work and money so you can live there.
I'm not saying thats the only way to look at it but I find the explanation pretty good. It would explain why so many people who are actually very good at trading things struggle in this climate now while others now thrive who have no clue how to produce viable products.
What are you referring to when you say "capitalism"?
Are you talking about the dominant economic paradigm of the Enlightenment through to the present day, characterized by companies with private and fully transferrable ownership, named after the concept of "capital gains", embodying the distinction between land and labor and capital and entrepreneurship, and originally pioneered by the Dutch East India Company (and also the British one)?
Or are you talking about a more vague pattern of human relations that merely involves exchange between two private parties that is mediated by some sort of ruleset?