It seems like he's describing the death of liberalism in the imperial core rather than the death of capitalism. It's more like a techo-Gilded-Age than technofeudalism.
He does have a point about profit no longer being required though. Was that ever true before? Could any company lose money in perpetuity and expect to be supported by the government?
Food production has enjoyed guarantees that amount to being unable to seriously fail, but I agree that the financial aspect of perpetually propping up a large series of megacorporatuons with MMT is fairly new for the imperial core. But I would hesitate to conclude that it's a new era with regards to capitalism vs. something else. More like a life raft that is headed for serious ruin, as the mechanisms they're using are the tools that are deployed for periodic downturns, so they'll run out of them when the crisis start piling up and shit will far more likely get progressively weirder and then implode rather than adopt a new techno-whatever status quo that's different from capitalism.
It seems like he's describing the death of liberalism in the imperial core rather than the death of capitalism. It's more like a techo-Gilded-Age than technofeudalism.
He does have a point about profit no longer being required though. Was that ever true before? Could any company lose money in perpetuity and expect to be supported by the government?
Food production has enjoyed guarantees that amount to being unable to seriously fail, but I agree that the financial aspect of perpetually propping up a large series of megacorporatuons with MMT is fairly new for the imperial core. But I would hesitate to conclude that it's a new era with regards to capitalism vs. something else. More like a life raft that is headed for serious ruin, as the mechanisms they're using are the tools that are deployed for periodic downturns, so they'll run out of them when the crisis start piling up and shit will far more likely get progressively weirder and then implode rather than adopt a new techno-whatever status quo that's different from capitalism.