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Phone A Friend: Yanis Varoufakis.
Unf*cking The Republic
From Land to Capital: Transition in Power Dynamics
The transition from feudalism to capitalism marked a shift in power from owning land to owning means of production, or capital. Profit accumulation replaced rent accumulation as the primary source of wealth, where profits are derived from operating in labor, capital, and goods markets, whereas rent is obtained from ownership of scarce resources like land or oil rights. Machines, such as industrial robots or fishing rods, are examples of produced means of production used to create other goods.
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