Forum Post: Neo Feudalism: The Disease

For centuries feudal lords were awarded lands and the people on them as a reward for service to kings, dukes etc. They paid taxes to their liege lords to be allowed continued possession of their holdings. Today we pay some taxes to keep our homes and business properties but we pay more in interest to the mortgage holders. The latter are the elite among our royalty.

Marx and others predicted that the system of lender/debtor, capitalism, will self destruct. And it is getting closer to that inevitable end every day. The economic prophets of 100 to 200 years ago mostly thought, like Marx, that the collapse would happen a couple of hundred years in our future.

But our economic geniuses have shown that the purely greedy can make the rest of us purely needy a lot faster than that. Look around. The signs are there for those willing to see them.

"The democratization of home ownership during the 20th century led middle-class voters to oppose property taxes - including taxes on commercial sites and natural resources. Tax policy in general has become pro-rentier and anti-labor - the regressive opposite of 19th-century liberalism as developed by 'Ricardian socialists' such as John Stuart Mill and Henry George. Today’s economic individualism has lost the early class consciousness that sought to tax economic rent and socialize banking."

https://www.nakedcapitalism.com/2017/10/michael-hudson-socialism-land-banking-2017-compared-1917.html