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China offers an alternative to Western ‘technofeudalism’
(www.scmp.com)
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this post was submitted on 26 Jun 2025
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Yeah, rent seeking behavior has been a constant of capitalism especially since it entered its monopoly stage. The railroad barrons and oil barrons and mining barrons and shipping barrons etc etc just sit on valuable resources and collect rents, rather than producing anything for profit. That's been with us for almost two centuries!
Capitalism bought some time with trust busting, but this is always the end game.