A recent commentary by Bagehot in the current Economist put a twist on post-modern capitalism. The comment was on “Megxit” as an expression of the current geist.
Bagehot wrote: “The Sussexes are doing something new. They are embracing capitalism in its rawest, most modern form: global rather than national, virtual rather than solid, driven by its ineluctable logic, constantly to produce new fads and fashions.”
And then noting that: “This type of capitalism is the inverse of feudalism. In feudal society, you are bound to your followers by mutual bonds of obligation. In 21st century capitalism, you accommodate followers in order to monetize them.”
Commoditizing royalty is just an extension of middle class consumerism and fits with Thorstein Veblen’s theory of conspicuous consumption, where what you buy is what you are. Marx’s disdain for the cash nexus which corrodes all moral relationships still seems apt.