Introduction

A fundamental condition of capitalism is empowerment of labour. This implicitly criticises Marxist and neoclassical economic approaches. Whatever separates these apparently divergent models, both concentrate on capital accumulation as the condition for capitalist growth. I reject this position. In its place, I argue that capitalism can exist only through empowerment of the “poor” and rising mass incomes.

“The poor” have no particular interest in capitalism. However, they render the entire system possible by pursuing their interests. In doing so, they resist the strategies of entrepreneurs, and especially of rentiers. These privileged groups pretend that they are promoting capitalism, whereas, in fact, many among them are merely collecting rents.