hamida’s Reviews > Seventeen Contradictions and the End of Capitalism > Status Update
hamida
is 19% done
Contradiction 3 - private property and the capitalist state
-defining private property & its importance when it comes to individual interests.
-discussion of indigenous populations and how colonial powers impose “exclusionary ownership“ on what was already privately owned by individuals or group, meaning property ownership is contingent on who decides who it belongs to. So who decides that? Do we own anything?
— Jul 04, 2026 05:10PM
-defining private property & its importance when it comes to individual interests.
-discussion of indigenous populations and how colonial powers impose “exclusionary ownership“ on what was already privately owned by individuals or group, meaning property ownership is contingent on who decides who it belongs to. So who decides that? Do we own anything?
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hamida’s Previous Updates
hamida
is 14% done
quasi money
Inhibiting the use of money as a “store of value”, and “oxidizing” the money if it isn’t used in order to prevent large accumulations of wealth.
— Jul 01, 2026 01:16PM
Inhibiting the use of money as a “store of value”, and “oxidizing” the money if it isn’t used in order to prevent large accumulations of wealth.
hamida
is 14% done
Use value vs exchange value
Quasi money
Monkey as exchange value
— Jul 01, 2026 11:34AM
Quasi money
Monkey as exchange value
-differences between usufructuary rights (active use without destruction) and exclusionary permanent ownership rights. The differences between the two led to tensions among colonial powers on indigenous populations who traditionally used land as it stood.
-he explained the usage of modern eminent domain. This is based on the doctrine of “res nullius” which declares only private property on land that provides “productive value” in the form of commodity production is a legitimate use of land. The lack of producing value was used to justify dispossessing individuals’ “unproductive” land to make way for “productive land” by those with more resources. This allows for the appropriation of private property regardless of whom it belongs to and what use is being derived from those owners. Literally force for the supposed greater good.
-“should knowledge be universally available to all or privately owned?”
-individualized property rights may still need to be secured through the existence of state power, despite its inherent potential for abuse.
-The state has to have a monopoly over the legalized use of violence to exercise control.
-Learned that the US has hegemony in the world monetary system through “dollar diplomacy” and is sustained by its control over the world currency. US has the reserve currency for the global monetary system since 1945, exclusive rights of creation of that money (yikes).
-david poses another alternative political strategy that “dissolves the existing contradiction between private and individual interest on one hand and state power and interest on the other” and replaces it with something else. He says the only long-term objective should be to does absorb the private property rights into a “comprehensive project for the collective management of the comments” and to remove the autocratic and despotic State powers into a collective management.
-reclamation of money and credit as a form of democratically regulated commons is needed before we head towards greater monetary despotism.
-twin pillars of a monopoly over the legit use of violence and monopoly power over monetary and currency, breaking down the second monopoly will dissolve the capitalist state power.