"Trump’s circle of founder-entrepreneurs are playing Schumpeter’s entropic timeline in reverse. To facilitate a new birth of capitalism, they are intent on destroying both the New Deal administrative state and what they see as its economic counterpart, the “woke” corporation. As libertarians, their antisocial proclivities are considerably more advanced than those of mere neoliberals. In fact, they are determined to destroy not just the last vestiges of New Deal social welfare, but also the neoliberal model of state-subsidized or state-backstopped social markets represented by mega institutional investors like BlackRock. It is becoming clearer by the day that the war on “woke capitalism” is more than just theater. Trump’s minions really are prepared to take down the summits of neoliberal capitalism to elevate their own faction of collapse finance: company founders, private investment partners, and controlling shareholders.

But can founder capitalism survive its own destructive impulses?"

https://www.e-flux.com/notes/6783484/collapse-finance-part-3-founder-capitalism-and-the-drive-to-self-destruct

#Capitalism #FounderCapitalism #Trump #WokeCorporation #MAGA #BigTech