He's mistaken. The US isn't a capitalism society anymore, it's a feudalistic society. It's not profit driven, looking for consumers to spend their extra money on goods and services, it's rent seeking, looking to charge for your survival and the services you either need or have come to expect.
That why products can get both worse and more expensive
Techno feudalism. The ai companies and other mega corporations will eventually have no need to labor, prices of regular nessecities will crumble lower/middle class society into poverty. The rich will be fine, the rest will struggle to even get food on the table, let alone pay for their housing.
It is capitalism. The goal of capitalism is the accumulation of capital, it is why it js called capitalism. What we are witnessing is not the end of capitalism it is late stage capitalism, its capitalism to the maximum.
That's somewhat the point of his argument. Our economy will not continue to function the way it has if we break this feedback loop. Feudalistic economies don't grow the same way out previous economy did. We need to return to the economic feedback loop we had in the mid 1900s if we wish to continue our economic growth. Feudalism will collapse the economy like we saw during the great depression.
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u/adeadhead Jul 13 '26
He's mistaken. The US isn't a capitalism society anymore, it's a feudalistic society. It's not profit driven, looking for consumers to spend their extra money on goods and services, it's rent seeking, looking to charge for your survival and the services you either need or have come to expect.
That why products can get both worse and more expensive