How Rentier Capitalism is Destroying Democracy and Equality | The Lost Dollar Business Club Ep 610

Two Old Farts Making Noises

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This week on The Lost Dollar Business Club Ep 610
In this insightful summary of Guy Standing's book, The Corruption of Capitalism, we dive into the core issues of modern-day capitalism. Standing argues that what we have today is not a free market, but a system dominated by rentier income and asset ownership—where wealth is concentrated in the hands of the few who profit not from labor or productive investments, but from owning assets like land, intellectual property, and financial instruments.
He critiques the idea of trickle-down economics, showing how it has failed to close the growing gap between the rich and the working class, leading to greater inequality and eroding the foundations of meritocracy. As Standing points out, mainstream politicians often misunderstand the real roots of the problem. Instead of a true free market, we live under a system where the wealthy use their power to shape laws that favor them, widening the divide.
At the heart of this system is the rise of the precariat—a class of workers trapped in low-wage, unstable jobs, and an unpredictable future. While the elite benefit from corporate bailouts and capital accumulation, the precariat faces growing insecurity. Standing's solutions include implementing basic income to provide economic security and rethinking intellectual property laws that unfairly favor the wealthy. Through these reforms, he envisions a fairer, more balanced economy where ownership no longer trumps labor.
🔍 Want to learn how we can fix the economy? Watch to uncover the path toward economic justice and equality!
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