He's arguing that capitalist systems morph over time into feudalistic systems and the argument is pretty persuasive but there's an issue: capitalism initially emerged out of feudalism. The text's theory of history requires a hidden variable that controls the feudalism->capitalism->feudalism process, but no candidate for a hidden variable is suggested by the author. Sure, any reader can think up some candidates for th…
The resulting "agency" has historically been pretty violent, when the injustice and tension are too severe. So it's wise to constantly be course-correcting by recognizing the new skins of feudalism and wresting power away from its lords.