Michael Hudson argues that the industrial capitalism of a previous era has given way to a new form of financial capitalism. Today’s financial capitalists, unlike capitalists in Marx’s day, now claim their share of the surplus by passively extracting interest or economic rents…

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?

  • WayneBarloweFan@lemmygrad.ml
    14·
    1 year ago

    My most sincere recommendation is you take your thoughts directly to Roderic Day. I think the reaction will explain a lot.

    • QueerCommie@lemmygrad.mlOP
      3·
      1 year ago

      You mean he can answer my questions? Where would I contact him? I don’t have a Twitter account and don’t want to make one. I feel like he should be on Lemmygrad considering he’s involved in GitHub and his work is so popular here.

        • WayneBarloweFan@lemmygrad.ml
          22·
          1 year ago

          Yet apart from Twitter and RedSails what work does he actually do? The whole Twitter circle of Roderic & various art-themed avatars reminds me of Politsturm. The self-appointed politburo in exile of getting mad online. No real political work. Only bickering!

          Just being able to see through the Jamestown Foundation on Xinjiang doesn’t give one a license to sneer at everyone who knows more about dependency theory lol

      • 🔻Sleepless One🔻@lemmygrad.mlEnglish
        3·
        1 year ago

        When you say “involved with github”, do you mean he has work in git repos hosted on github, or that he actually works on maintaining the software used to run github?

      • WayneBarloweFan@lemmygrad.ml
        23·
        1 year ago

        He seems to exist purely as a twitter entity linking to his blog so yeah. Twitter. He has some good translations on there.

        He will reply to you in ten seconds even if you have zero followers, he is insane. You can make a twitter with just an email from Hide My Email or TutaMail.

        • alicirce@lemmygrad.ml
          5·
          1 year ago

          It’s strange to me that being responsive to questions, regardless of the amount of social clout someone has, is somehow spun as a bad characteristic about Roderic here.

          • 小莱卡@lemmygrad.ml
            4·
            1 year ago

            i mean, being terminally online is objectively bad. I think we can all agree even while being guilty of it.

          • QueerCommie@lemmygrad.mlOP
            3·
            1 year ago

            I think the insanity is the extent to which he is terminally online, not necessarily that he will reply to anyone.

          • WayneBarloweFan@lemmygrad.ml
            34·
            1 year ago

            Responding in ten seconds abt how your claims would never be taken seriously for identity politics reasons is not being responsive to questions. They’re just seething attempts at pithy remarks 60% of the time.

            Literally saying nobody in Latin America would take Ruy Mauro Marini’s theories seriously. What a useless suckup Twitter blowhard.