From Dawn to Decadence, Part 5
Varn Vlog
Falling Profit Rates and Fictitious Capital
Varn explains declining real profit rates, asset inflation, and how rents obscure true productivity declines.
Start with the symptom: everything still moves, yet less gets done. We unpack decadence as a live condition—where empires posture with airstrikes instead of strategy, markets float on bubbly valuations, and everyday obligations dissolve into choice and churn. Rather than predicting apocalypse, we track how capabilities thin out while systems grow heavier, and we ask what it would take to reverse that pattern.
Our conversation maps the terrain across geopolitics and political economy. We examine military hollowing, Trump-era incentives, and the shift from global projection to regional coercion that masquerades as multipolar “freedom.” We dig into Brexit’s exposure of Britain’s productive weakness, the EU’s turn to securitization, and why faltering Belt and Road ambitions recalibrate power rather than replace it. On the economic front, we separate real profit rates from rent-inflated revenues, explain how administrative bloat and litigation fuel cost disease in sectors like education, and show why fictitious capital turns asset inflation into the only viable growth model. Elite overproduction and de-skilling aren’t just memes; they’re structural forces that capture institutions while eroding competence.
Culture mirrors these dynamics. Tools like standpoint epistemology and intersectionality began sharp and specific, then inflated under attention incentives until they explained everything and clarified nothing. The attention economy rewards maximalism; conspiracy offers coherence on the cheap. Meanwhile, social reproduction falters: loneliness rises, trust collapses, and the language of total choice encroaches on domains that need durable obligation. You don’t have to be religious to see the cost—families, chosen and given, remain our basic infrastructure of care, and population decline reflects deeper social illness, not just private preference.
We don’t offer a rewind button. Renewal means rebuilding capacity: sectoral strategies that let unions scale across fragmented workplaces; simplification that cuts compliance labyrinths; investment that privileges real production over valuations; and a civic culture that re-centers duty and measurable outcomes. Decadence is a diagnosis, not a fate. If this resonates, share the episode, leave a review, and subscribe—then tell us where you see decay turning into growth in your own world.
Musis by Bitterlake, Used with Permission, all rights to Bitterlake
Crew:
Host: C. Derick Varn
Intro and Outro Music by Bitter Lake.
Intro Video Design: Jason Myles
Art Design: Corn and C. Derick Varn
Links and Social Media:
twitter: @varnvlog
blue sky: @varnvlog.bsky.social
You can find the additional streams on Youtube
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