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“The decline of the West is not necessary or historically inevitable. It is the result of choosing policies dictated by its rentier interests. The threat posed to society by rentier interests is the great challenge of every nation today: whether its Govts can restrict the dynamics of finance capitalism and prevent an oligarchy from dominating the state and enriching itself by imposing austerity on labor and industry. So far, the West has not risen to this challenge.” . -Michael Hudson

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“The decline of the West is not necessary or historically inevitable. It is the result of choosing policies dictated by its rentier interests. The threat posed to society by rentier interests is the great challenge of every nation today: whether its Govts can restrict the dynamics of finance capitalism and prevent an oligarchy from dominating the state and enriching itself by imposing austerity on labor and industry. So far, the West has not risen to this challenge.” . -Michael Hudson
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David Graeber Institute (dgi@graeber.social)'s status on Thursday, 23-Jan-2025 19:56:07 JST David Graeber Institute

Michael Hudson's words are always worth taking a minute to read.

In conversation about 4 months ago from graeber.social permalink