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this post was submitted on 01 Jul 2024
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I read an interesting take on some site and it said that we are leaving Capitalism for Feudalism where the kings are now big Companies.
Kind of. American Proletarians have a unique position of enjoying the benefits of a super-exploited class of domestic immigrants paid lower wages via threat of deportation, and Imperialistic hegemony, but are also enslaved by vast amounts of debt. This is very different from standard Capitalism, but not quite feudalism. It depresses the revolutionary potential of the American Proletariat for as long as Imperialism is the status quo.
I believe the theory goes something along the lines of feudalism being centered about renting (ie land) and with manafacture that shifted to a product-based economy. With time, renting has regained dominance and is reaching a whole new level now that most capital is tied up in the cloud (AWS, azure etc.)