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What Capital Never Told You About Rent

58 points · 46 comments · longitudinal93

  1. MarkusQ · · focus · HN ↗

    [dead]

    1. strken · · focus · HN ↗
      It's not Marxist at all, otherwise it'd be talking about the labour theory of value and wouldn't admit that profit through innovation is possible. It seems to be Georgist.
      1. MarkusQ · · focus · HN ↗
        "Profit requires you to keep showing up. It goes to zero if you stop producing or innovating, and yields diminishing returns as others learn to duplicate or improve on your approach – so you have to keep learning and improving, too. Profit “belongs to the living” because it requires flow: you profit by generating value in a game with moving targets."

        They didn't say the words, but they sure painted the picture (plus the usual Marxist game of moving the meaning of words around to keep the grift going).

        1. strken · · focus · HN ↗
          What picture do you think is being painted here? I'm pretty sure that actual self-identified Marxists would be insulted if you accused them of believing in profit or thinking Adam Smith was correct.
          1. MarkusQ · · focus · HN ↗
            No, this is redefining "profit" to mean "labor-created value". The self-identified Marxists I've met have been perfectly fine with redefining things to trick other people into thinking they agree with them.
    2. popalchemist · · focus · HN ↗
      Marx's core premise, that capital tends to pool in the hands of the few, is the idea underpinning the entirety of our modern economy.
      1. swed420 · · focus · HN ↗
        For those in denial:

        Modern Capitalism Is Weirder Than You Think: It also no longer works as advertised

        <a href="https:&#x2F;&#x2F;nymag.com&#x2F;intelligencer&#x2F;2022&#x2F;03&#x2F;how-asset-managers-have-upended-how-modern-capitalism-works.html" rel="nofollow">https:&#x2F;&#x2F;nymag.com&#x2F;intelligencer&#x2F;2022&#x2F;03&#x2F;how-asset-managers-h...

        (<a href="https:&#x2F;&#x2F;archive.is&#x2F;wSmtd" rel="nofollow">https:&#x2F;&#x2F;archive.is&#x2F;wSmtd)

    3. mwkaufma · · focus · HN ↗
      Ctrl-F &quot;marx&quot; -- 0 results.
      1. bluGill · · focus · HN ↗
        You don&#x27;t have to reference Marx to be using the same incorrect logic has he used.
        1. dam_jackalopes · · focus · HN ↗
          No, but the article doesn&#x27;t really do that either.
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