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- Embed this notice@doctorow (or should I say @pluralistic?) has correctly IMHO diagnosed that capitalists hate capitalism, but that's because those are misidentified as capitalists, they're actually feudal lords in their rent-seeking and serfdom-cultivating behaviors, though they are capitalists in their worker-hiring and capital-expansion behaviors. it's a chimera. whereas in that phrase, capitalism refers to the original scholar definition of capitalism, in which enforced competition, and rejection of monopolies/rents, promote progress, drive prices down, and promote the circulation of goods and money, while exploiting workers to extract surplus value.
those days are over. nowadays, top mislabeled capitalists are feudal lords, the petit bourgoises are hardly distinguishable from the proletariat and need to work to stand a chance of staying afloat among the big rent-seeking sharks (landlords, banks, larger competitors, and other rent-seeking monopolists), and labor is represented as about to become obsolete, so the dominant class won't even need workers to extract surplus value, I suppose they expect it's coming from rents instead.
it's only so much use to look at the power dynamics that were prevalent back when the dominant class needed workers. the solutions prescribed for that scenario don't necessarily apply to what we have today. the context changed, so the solutions may need to be changed as well.
I guess a lot of people much smarter than myself have also long arrived at this conclusion, and have been busy working out newer solutions. hopefully I'll run into them instead of having to figure it out by myself ;-)