I’ve saddly been reading too much socdem stuff and they keep doing their old “this is worse than capitalism, this is feudalism” bit, and I got curious if some proper theorist has written something about this discussion in the past. Any tips?
I’m getting tired of grumbling “capitalism is when factory, feudalism is when rent.”
I think the confusion about “feudalism is rent” stems from a lack of understanding about what capitalism is and what feudalism is. Feudalism is a very different mode of production: serfs were tied to their lords, but lords also had duties towards their serfs. This essay talks about what changed from feudalism to capitalism, which is something everyone in the 19th century was very aware of. Today, feudalism is so long ago that we have a hard time even conceiving of something that isn’t capitalism. (And so we come up with bizarre, indefensible definitions like “feudalism is when rent.”)
Marx lays out in Capital that rent, profits and interest are all crystallized surplus-value, i.e., all of them are capital:
This point is really important to him, as he tells Engels:
Something novel about Marx’s books is that they look at capital from labour’s perspective, which I wrote about here. There are scenarios in which the difference between rent and interest and profit are meaningful. But for the sake of the liberation of workers from the oppression of capital, they are all the same: