The idea that we are entering an era of techno-feudalism that will be worse than capitalism is chilling and controversial. We asked former Greek finance minister Yanis Varoufakis to elucidate this idea, explain how we got here, and map out some alternatives.

The idea that we are entering an era of techno-feudalism that will be worse than capitalism is chilling and controversial. We asked former Greek finance minister Yanis Varoufakis to elucidate this idea, explain how we got here, and map out some alternatives.

  • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
    155·
    9 months ago

    To refer to this as feudalism gives an impression that capitalism functions effectively and we are transitioning away from it; however, in reality, we are merely progressing into the advanced stages of the same system. Let us simply acknowledge that it is indeed capitalism.

      • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
        43·
        9 months ago

        I’d say capitalism is an evolution of feudalism that was facilitated by the industrial evolution. However, the two systems share most of the negative aspects, and in later stages of capitalism differences become increasingly negligible.

          • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
            63·
            9 months ago

            Well, specifically what changed was that under feudalism power in society was determined solely by birth. Either you were born a noble or you weren’t. Capitalism was rich merchants overthrowing the nobles and democratizing the oppression of the workers. I do agree that for the most part it is an iteration of the same system though.

              • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
                33·
                9 months ago

                I agree, late stage capitalism starts to look a lot like feudalism because all the wealth ends up being concentrated in the hands of a few people, but there are some differences in the way the two systems function.

                  • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
                    43·
                    9 months ago

                    I agree that there are more similarities than differences, and in most tangible aspects two systems behave in a similar fashion. Both are fundamentally predicated on a small privileged class of people living off the backs of the working majority.