It seems that Capitalism took a wrong turn and is retracing The Road to Serfdom. Hayek worried about government intervention in business, but he did not imagine a world where corporate leaders would grow large enough to not only be able to control government power through money and influence, but it could actually ignore governments altogether—or at least to a large extent.
The last time government was challenged at this level was by the Church. In the end, it resolved into a tenuous stalemate. But this next conflict will be ostensibly bloodless, opting to be fought with political weaponry.
To the workaday people, it doesn’t change much. Denial is an interesting bed partner anyway. As most deny being wage slaves, they now just deny being serfs. In their minds, they are free, just inches from the goal line. I’m not the one to break it to them that the goal line away from in inches is the wrong one. They’re an entire field’s length to reach their goal. Thank goodness for denial and mechanisms that assuage cognitive dissonance. Ignorance is indeed bliss.
For some, the COVID response doubled down on the transition from Capitalism to Communism. For others, it was a reinforcement of the strength of Capitalism—and if in the milieu of fighting between authoritarians and Libertarians. But the phoenix rising from the dust—hardly flames—seems to rather be a sort of neo-feudalism. This seems to be a more likely future than Capitalism in a nation-state world. I assume that Nation-states will continue to exist, but they will serve only to contain the commoners, the ones who can’t afford to escape the fetters.
I don’t have much to add to the discussion at this time, but this article sums up some of my perspectives. My question is how the Capital aspect is extricated from the system. The serf part is easy.