These videos by Sam Vaknin on capitalism went viral…
It left me wondering if I am actually rich. I don’t have any debts and I collect rent. I own assets like stocks, bonds, and crypto, and I work for the state, matter of fact I am elected into a political office and the state pays me twice.
But I am a small fry, I might have assets worth six figures, (I hope to reach million dollars) I don’t generate a six figure income, yet… maybe when BTC rises to million dollars…
Vaknin’s take is that the essence of capitalism is the freedom of movement and the efficient allocation of capital also known as the invisible hand of the market. Unfortunately, social institutions like family stand in opposition to these two concepts.
A lot of commentators are mentioning that the capitalism that we have is more akin to feudalism, where there is a symbiotic relationship between the state and business. Increasingly, there will be a class of rich that will own everything and a mass that will own nothing.
Vaknin also did a follow up to his viral video…
Insomniac Resurrected 