Hi there. The Capital accumulation, the Capital Formation is happening in a very limited number of real economy manufacturers.The others are playing the devaluation of wages of the overall workforce, squeezing some productivity left, as the exit strategy and so try to keep the falling rate of profit. Which leads to the end of Capital and the lost capital accumulation , in 21st century.
The end of capital in 21st century could have been seen with the naked eye from 2010 on.
The owners of real capital convinced their workforce that they are in the same boat. The manufacturing owners and the workers were in it together against the same enemy.The enemy was globalization rules and competition,rising overall debt, financialization and falling profit.
The lets work together motto , we are all in the same boat situation,was embraced by the last remnants of organized workforce, the Unions.If not, the organized independent unions were banned or obstructed by law.
The Unions and also the non organized workers started to think and act as they were Milton Friedman fans.They acknowledged that outsourcing of capital capacity to the cheaper places was a way to preserve at least some jobs in the place of origin.They even believed and still believe that when cutting the costs, which means cutting themselves and their living will lead to a new cycle of capital formation and that the hiring of well paid, guaranteed jobs will come back, so the neoliberal textbook sells the growth cycles.. They, Idiots. They helped the Capital for more work exploitation to preserve their jobs.
They, the Unions and workers, became completely conservative, fighting for jobs in completely obsolete factories. Like in Italy where they fought and fight for a completely obsolete steel production in Taranto, or in Trieste, where they delayed for many years the foreclosure of a terrible, falling to pieces 18th century coke steel factory. They even took as granted that the population was dying of cancer, so were the workers, in this depleted of capital factories which squeezed the last drops of profit from the paleolithic machinery and long gone production methods and their workforce..
The same goes in the other, capital depleted mature sectors, where the workforce fights together with their Bosses and Owners to keep the last remnants alive.
That the Capital and Work were in the same boat was true if one takes for granted the cargo cult economy model which all believed and still believe was the Word of God.. The Portfolio Capital predominance of finance money , assets and bets was and is standing in opposition to the manufacture capital.
The Capital in a strict sense has lost the hegemony forever.The end of Capital in 21st century.
The workforce, embracing the Milton Friedmanesque neoliberal narrative of TINA , together with their masters and producers, in fright of facing the demise of their status while watching the gig economy precipice growing under their feet, embraced the common cause with the real capital owners.
Witchdoctor does not remember, it was some months ago, he was listening to an Indian worker explaining his condition as a natural one. He was , unbelievable, explaining the point of view of his owners as he was one of them. It was fun to listen to him explaining the reasons of Capital and his natural role in it.
Concluding, the new alliance of real capital and its workforce against the common enemy has succeeded.
They are all believers in the same cargo cult.That is why they worked even in lockdown in times of Covid19.Not from home, going to work in factories, with “special” permissions granted by complacent authorities.
The famous objective status of alienation made a loving, the Stockholm syndrome bond between the last depleted capital owners and their loving workforce, so loved that they can be put out of work anytime by their loving Owners and they even understand why is this happening and even approve this Act of God.
The globalization- the money creation,the debt- the syphoning by the Portfolio Capital, the end of social conflict, the end of capital,the demise…and the servitude of precarious contracts.
The others and also them are slowly sliding into a great gig in the sky.
Witchdoctor
this looks as that the trilogy is concluded, but, you never know…
https://www.witchdoctor.space/2020/06/15/europeend-of-capitalend-of-capitalism/