Today for my podcast, I read Precaratize Bosses, a recent essay from my Pluralistic.net newsletter.

I recorded this on a day when I was home between book-tour stops (I’m out with my new techno crime-thriller, The Bezzle). Catch me this Thursday (May 2) in Winnipeg with the Canadian Centre for Policy Alternatives, then in Calgary with Wordfest on May 3, then in Vancouver at Massy Arts om May 4, then in Tartu, Estonia for a series of events with the Prima Vista Literary Festival (May 6-11), and beyond! The canonical link for the schedule is here.

Combine Angelou’s “When someone shows you who they are, believe them” with the truism that in politics, “every accusation is a confession” and you get: “Every time someone accuses you of a vice, they’re showing you who they are and you should believe them.”

Let’s talk about some of those accusations. Remember the moral panic over the CARES Act covid stimulus checks? Hyperventilating mouthpieces for the ruling class were on every cable network, complaining that “no one wants to work anymore.” The barely-submerged subtext was their belief that the only reason people show up for work is that they’re afraid of losing everything – their homes, their kids, the groceries in their fridge.

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Today for my podcast, I read Capitalists Hate Capitalism, my latest column from Locus Magazine. It’s a meditation on the difference between feudalism and capitalism, and how to know which one you’re living under.

I recorded this on a day when I was home between book-tour stops (I’m out with my new techno crime-thriller, The Bezzle). Catch me this Wednesday (Apr 17) in Chicago at Anderson’s Books, then in Torino for the Biennale keynote on Apr 21, then in Marin County at Book Passage Corte Madera on Apr 27, then in Winnipeg, Calgary, Vancouver, and beyond! The canonical link for the schedule is here.

Varoufakis’s argument turns on an important distinction between two types of income: profits and rents. These terms have colloquial meanings that are widely understood, but Varoufakis is interested in the precise technical definitions used by economists.

For an economist, ‘‘profit’’ is income obtained by mixing capital – tools, machines, systems – with your employees’ labor. The value created by that labor is then divided between the worker, who draws a wage, and the capitalist, who takes the rest as profit.

‘‘Rent,’’ meanwhile, was income derived from owning something that the capitalist needs in order to realize a profit. In feudal times, hereditary lords owned plots of land that serfs were bound to, and those serfs owed an annual rent to their lords. This wasn’t a great deal for the serfs, but it also needled the nascent capitalist class, who would have very much preferred to have those lands enclosed for sheep grazing. The sheep would produce wool, which could be woven into cloth in the ‘‘dark, Satanic mills’’ of the industrial revolution. The former serfs, turned off their land, could be set to work in those factories.

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