6 Matching Annotations
  1. Jan 2023
    1. there's a landlord tax the the  one percent in their day were the landlords you   have to tax away the land rent and make that  the public uh tax base not income not taxes on   consumer goods not taxes on capital because you  want good capital investment you want fortunes to   00:45:07 be made in a good way that add to the economy's  productivity you don't want them to be made in   a predatory bad way uh the whole fight to tax  economic rent and to even recognize that most   income is unearned when you talk about the uh  income disparity almost all this disparity is   unearned income it's economic rent it's not  income that's made by increasing uh production   00:45:33 it's not income that's made by increasing living  standards it's just predatory rent seeking from   special privileges that the wealthy have gained  from government and today it's not the landlord   class anymore as it was in the 19th century it's  the financial class and the raw materials class   uh and uh without dealing uh with this uh  cl structure i don't uh the system is going   00:45:57 to shrink and shrink and we've seen this before  we saw it in rome the same kind of polarization   and concentration of wealth in the roman empire  well the last stage of that is feudalism so we're   back to what rosa luxemburg said the choice is  between socialism and barbarism basically and uh   there's no other way to do it you can't  solve the problems within the existing system   00:46:23 because it's controlled already by the one  percent

      Micheal Hudson : tax the rent seeking class or face barbarism like in Rome - The situation today is degrading in the same way Rome degraded into feudalism - rent seeking class today is not the landlord class, but the financial and raw materials class that are making large fortunes from rent seeking - that is the system level reform necessary today

  2. Dec 2022
    1. That same enshittification is on every platform, and "freedom of speech is not freedom of reach" is just a way of saying, "Now that you're stuck here, we're going to enshittify your experience."
    2. They didn't block new features for shits and giggles, though – the method to this madness was rent-extraction. The iron-clad rule of the Bell System was that anything that improved on the basic service had to have a price-tag attached. Every phone "feature" was a recurring source of monthly revenue for the phone company – even the phone itself, which you couldn't buy, and had to rent, month after month, year after year, until you'd paid for it hundreds of times over. This is an early and important example of "predatory inclusion": the monopoly carriers delivered universal service to all of us, but that was a prelude to an ugly, parasitic, rent-seeking way of doing business:

      Predatory inclusion is a form of rent-seeking in which one preys on customers using monopoly power to extract excessive value for small add-on services.

  3. Jul 2022
    1. Speculation, herd exuberance, irrational optimism, rent-seekingand the temptation o f fraud drive asset markets to overshoot andplunge - which is why they need careful regulation, something Ialways supported. (M arkets in goods and services need lessregulation.)
  4. Mar 2021
  5. Sep 2020
    1. When Japanese companies threatened to take over the American microchip market, the libertarian computer capitalists of California had no ideological qualms about joining a state-sponsored cartel organised by the state to fight off the invaders from the East! 

      A good example of so-called capitalists playing the do as we say and not as we do game.