As class conflict intensifies, imperial decline pushes capitalism into a corner
rainershea.substack.com
During late-stage capitalism—the era where capitalism has stopped being a revolutionary force and started being reactionary—the bourgeoisie function within a perpetually contracting range of options. During the mid-19th century, when the bourgeoisie were fresh off from defeating the feudal ruling class, their system was vibrant and continuing to grow. But no sooner had they achieved this than was Marx able to observe that the rate of profit has a tendency to fall. His conclusion was that because capitalism is centered around accumulation—with capitalists constantly needing to reinvest the surplus value from labor back into the productive forces—the system comes to demand too much of itself. Productivity runs up against limits, despite the bourgeoisie needing ever more productivity to make their investments pay off.
As class conflict intensifies, imperial decline pushes capitalism into a corner
As class conflict intensifies, imperial…
As class conflict intensifies, imperial decline pushes capitalism into a corner
During late-stage capitalism—the era where capitalism has stopped being a revolutionary force and started being reactionary—the bourgeoisie function within a perpetually contracting range of options. During the mid-19th century, when the bourgeoisie were fresh off from defeating the feudal ruling class, their system was vibrant and continuing to grow. But no sooner had they achieved this than was Marx able to observe that the rate of profit has a tendency to fall. His conclusion was that because capitalism is centered around accumulation—with capitalists constantly needing to reinvest the surplus value from labor back into the productive forces—the system comes to demand too much of itself. Productivity runs up against limits, despite the bourgeoisie needing ever more productivity to make their investments pay off.