Technofeudalism: What Killed Capitalism

Technofeudalism: What Killed Capitalism

2023 • 281 pages

Ratings7

Average rating4.3

15

Capitalism is dead. How did the owners of Big Tech become our feudal overlords?

In his boldest and most far-reaching book yet, world-famous economist Yanis Varoufakis argues that capitalism is dead and a new economic era has begun.

Insane sums of money that were supposed to re-float our economies in the wake of the financial crisis and the pandemic have ended up supercharging big tech's hold over every aspect of the economy. Capitalism's twin pillars - markets and profit - have been replaced with big tech's platforms and rents. Meanwhile, with every click and scroll, we labour like serfs to increase its power. Welcome to technofeudalism.

Drawing on stories from Greek Myth and pop culture, from Homer to Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power and ultimately what it will take overthrow it.

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Enjoyed this one very much. Thesis is that capitalism has ended and we are now in the system of “Technofeudalism”. The feudal lord being big tech companies and the serfs e.g. users of their services.
Novel thoughts, well written, guided in a discussion between Varoufakis and his dad.

November 19, 2023

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