what do y’all think of this? It makes some good points and Micheal Hudson is probably not right, but I have one criticism to make. One of his arguments that the richest people are still industrial capitalists (because they started businesses that do stuff), not finance capitalists, but as Cory Doctorow points out, those companies are basically just rentiers at this point. Amazon makes most of its money hosting other businesses on their site, “Meta” makes most of its money hosting being a middleman connecting advertisers and unpaid content creators poorly. Thus, it seems at least the emperial core has increased rentierism. This doesn’t mean it’s not built on peripheral industry and that reindustrializing the west would benefit average people, but it does seem to be good news about the decline of empire. Other thoughts?
Just to point out, Hudson has literally called UBI a far right, neoliberal, Milton Friedman-esque platform.
Hudson is a co-founder of Modern Monetary Theory (MMT) and the MMT people are relentless in the critique of UBI (and rightly so), and promote Federal Jobs Guarantee as the solution forward.
Yea fair lol I’ll link to the paper I was talking abt with Charles Goodhardt. I’m just calling it that because it reminded me 💀💀💀