this post was submitted on 30 Aug 2024
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Technofeudalism has taken over now. It's even worse than capitalism
it's just the same system evolving over time
I haven't read Varoufakis' book but I can only assume it completely misuses the term feudalism and tries to make a case for "ethical capitalism" (or overtly or by implication), as though you can point to a particular period of capitalism when everything was great and the US wasn't dropping incendiaries or napalm on kids in Asia
Varoufakis is a commie so the book doesn’t make a case for “ethical capitalism”, no. Not sure if he is a Marxist, but I’m pretty sure he has called for a revolution many times.
Edit: I think his point is not so much that we’re at a completely different system, but that the current mutation of capitalism is so far removed from what people think of as capitalism that we need new language to talk about it.
I just started reading it, he directly says it's a different system and not just a mutation on the second page
You are correct in your edit. Many things in the book made sense. I enjoyed reading it.
I'm happy to let you know that your assumption is incorrect :). I highly suggest that you read the book. It was a nice change from all the sociology I normally read. I actually liked the book. Of course it's not perfect, but many things in it make sense.
Feudalism is a rigid class structure determined by blood inheritance. That's not really what we have. A noble who looses their money would still have the privileges and rights granted by their title - they would still be part of the ruling class. If a member of our ruling class were to loose their money, loose their source of passive income, they'd very quickly no longer be part of the ruling class.
I never said feudalism, it's technofeudalism. Two different things. To understand it more, I'd recommend you read "technofeudalism, what killed capitalism" by Yanis Varoufakis.
then... it's not really a good name for it. I just don't really see how this isn't still capitalism.
The book will explain it :)
It's just the death throes of Imperialism, Capitalism taken to its furthest and most grotesque limits.
Happy cake day!