this post was submitted on 30 Aug 2024
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How capitalism works (lemmy.ml)
submitted 2 months ago by yogthos@lemmy.ml to c/memes@hexbear.net
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[–] Wheaties@hexbear.net 17 points 2 months ago (1 children)

Feudalism is a rigid class structure determined by blood inheritance. That's not really what we have. A noble who looses their money would still have the privileges and rights granted by their title - they would still be part of the ruling class. If a member of our ruling class were to loose their money, loose their source of passive income, they'd very quickly no longer be part of the ruling class.

[–] penquin@lemm.ee 1 points 2 months ago (1 children)

I never said feudalism, it's technofeudalism. Two different things. To understand it more, I'd recommend you read "technofeudalism, what killed capitalism" by Yanis Varoufakis.

[–] Wheaties@hexbear.net 2 points 2 months ago (1 children)

then... it's not really a good name for it. I just don't really see how this isn't still capitalism.

[–] penquin@lemm.ee 1 points 2 months ago

The book will explain it :)