He calls that "bad capitalism":

> That’s a somewhat heavy macroeconomics theory paper, so here’s one analogy of what we have developed: we split “capitalism” into two

> - Good capitalism: Returns from capital that come from real growth, development, innovation.

> - Bad capitalism: Returns from capital that does not develop and improve the economy. The academic term is economic rent and rent seeking.

Also, I don't think it says anywhere that value comes from work or land.