Reading in paperback.
Quotes
Techno-feudalism
…in any political-economic system based on appropriation and distribution of goods, rather than on actually making, moving, or maintaining them, and therefore, where a substantial portion of the population is engaged in funneling resources up and down the system, that proportion of the population will tend to organize itself into an elaborately ranked hierarchy of multiple tiers (at leat three, and sometimes ten, twelve, or even more). As a corollary, I would add that within those hierarchies, the line between retainers and subordinates will often become blurred, since obeisance to superiors is often a key part of the job description. Most of the important players are lords and vassals at the same time. [p. 181]
If the existence of bullshit jobs seems to defy the logic of capitalism, one possible reason for their proliferation might be that the existing system isn’t capitalism—or at least, isn’t any sort of capitalism that would be recognizable from the works of Adam Smith, Karl Marx, or, for that matter, Ludwig von Miles or Milton Friedman [both neoliberal, free-market libertarians]. It is increasingly a system of rent extraction where the internal logic—the system’s “laws of motion,” as the Marxists like to say—are profoundly different from capitalism, since economic and political imperatives have come to largely merge. In many ways, it resembles classic medieval feudalism, displaying the same tendency to create endless hierarchies of lords, vassals, and retainers. In other ways—notably in its managerialist ethos—it is profoundly different. And the whole apparatus, rather than replacing old-fashioned industrial capitalism, is instead superimposed on top of it, blending together in a thousand points in a thousand different ways. [p. 191]