Paperback
By Yanis Varoufakis
๐
Publication Date: June 20, 2024
๐ ISBN-13: 9781685891241
๐ข Publisher: Bodley Head
๐ Pages: 320
In Technofeudalism: What Killed Capitalism, economist and former Greek finance minister Yanis Varoufakis presents a provocative thesis: capitalism, as we know it, has been replaced by a new system he terms "technofeudalism." This transformation, according to Varoufakis, is driven by the rise of digital platforms owned by tech giants like Amazon, Apple, and Google, which extract "cloud rent" from users rather than generating profit through traditional capitalist means .
Varoufakis argues that these tech companies have become the new feudal lords, with users serving as modern-day serfs who generate value through their online activities. He critiques the role of central banks and governments in facilitating this shift, particularly following the 2008 financial crisis, which led to the privatization of the internet and the concentration of wealth and power in the hands of a few tech corporations .
Challenging Perspective: Offers a bold critique of the current economic system and its implications for democracy and individual autonomy.
Timely Analysis: Provides insight into the growing influence of tech companies and their impact on global economics.
Thought-Provoking Read: Stimulates critical thinking about the future of capitalism and the role of technology in shaping society.
Yanis Varoufakis is a renowned economist and former finance minister of Greece. Known for his candid critiques of global economic policies, Varoufakis has authored several influential books, including Adults in the Room and Talking to My Daughter About the Economy. He is a co-founder of the Democracy in Europe Movement 2025 (DiEM25) and continues to be an active voice in discussions about economic reform and social justice.
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