What do we call this? Early stage capitalism? What the Western world is on track to return to? Forshadow capitalism?

This is when miners were paid in company currency and lived in company houses and shopped at a company store.

  • Łumało [he/him]@lemmygrad.ml
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    1 year ago

    Directly visible and throwing you into debt? No.

    But the surplus value you create and that you do not get goes somewhere, and that is not only funding your bosses business but also his yacht :^)

    • HiddenLayer5@lemmygrad.mlOP
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      1 year ago

      Instead of them paying you in company currency and owning the stores that accept that currency, they (the rich oligarchy) pay you in regular currency but own basically every store.

      It’s a mining town scaled all the way up, and we’re in it.

      • bobs_guns@lemmygrad.ml
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        1 year ago

        Due to inelasticity of demand and artificially limited supply, the things we need to live will always cost all of the money that you can make, and there will never be enough of them for everyone to buy.

        • HiddenLayer5@lemmygrad.mlOP
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          1 year ago

          Also, they have no incentive to make it available for everyone because limiting supply is how they profit.