GoodGuyWithACat [he/him]

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Joined 13 days ago
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Cake day: September 6th, 2024

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  • Capitalism or capitalists are not something that meaningfully exist before the industrial revolution

    I disagree here. The nascent of capitalism was grown within the old order of feudalism in small scale. Burghers/bourgeoisie operated within cities that were distinct in economy and governance from the rest of feudal world. Guilds and city councils were bourgeoisie organizations which codified the accumulation of capital. They weren’t producing on a factory scale, but they weren’t independent artisans either. Guild masters had dozens of employees under them who produced artisan goods in exchange for wage labor. While the majority of the population were agricultural workers, within select cities the urban population would turn surplus into capital. If it’s a matter of definition you could call this proto-capitalism because it wasn’t systemic to the entire economy, but a capitalist logic certainly dominated those select cities which allowed them to accumulate so much wealth. But I think if you have a hard cut off on capitalism beginning only with the industrial revolution, you’re losing a lot of relevant conversation.

    All in all, it seems to me as if this book is about the inter-state politics of capitalism

    And I don’t really disagree with this. The author doesn’t go into too much detail about how things are produced.



  • Hilarious because I’m reading “The Long Twentieth Century” which basically argues that there is a cycle of which power leads the capitalist world before being replaced by another capitalist power. Each power (Genoa, Netherlands, Great Britain, USA) began with an expansion of commercial and commodity production, which then reaches the limit of profits, before turning all excess capital towards financial expansion. Each financial expansion makes the capitalist class incredibly rich and prolongs their dominance, but sews the seeds for their end. It’s during this financial expansion that the next capitalist power starts their commercial expansion and becomes “the world’s factory.”

    The author shows that America’s financial turn was during the late 70s and especially 80s. He doesn’t draw this conclusion, but it’s clear to me that China is the current capitalist power that’s taken over the commercial role in shipping and manufacturing. Even though I think China is an AES, they still have a capitalist economy.

    We always joke that the commies in China do capitalism better than capitalists, but it’s demonstrably true. America has dominance right now due to financial networks, but that arrangement won’t last much longer with the material dominance of the Chinese economy.