Home › Forums › Discussion Forum › (Is this really ) How Capitalism is Killing Itself? › Reply To: (Is this really ) How Capitalism is Killing Itself?
Cronyism: So just to spell the argument out: cronyism and state capitalism are both (if not the same thing) ineviatable under capitalism because a concentration of economic power will lead to a concentration of political power (as the economically powerful purchase the political process to safeguard their privilege etc).
I earned it: Not sure I understand your points. 1. Sure, the investor extracts profit from (or “rips off”) the worker. 2. Sure, if workers can be cut out of profit creation all the better. However, I do see how either of these counter the capitalist perspective that the investor is directing energy into wealth creation activity by making good decisions. I can see arguments to counter this I just wonder what the marxist economist Wolff might say.