Technofeudalism

What Killed Capitalism

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. …

Tapa dura, 304 páginas

Idioma English

Publicado el 4 de agosto de 2023 por Random House Children's Books.

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ISBN:
978-1-84792-727-9
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Heavy, but very interesting

This was a fascinating read. Essentially Varoufakis argues that capitalism is actually over, and that we are now in an era where rent derived from "digital fiefs" is dominant (e.g.: Amazon doesn't produce goods or acquire capital in the tratitional sense, but because no seller can survive without selling on Amazon, it operates like a fief extracting rent from the vassals (sellers) who have no option but to use their site). It's pretty heavy economic theory, but he frames it as a conversation with his late father, and does a good job at simplifying and explaining what he talks about.

Very interesting, and very convincing.