Techno-Feudalism: What Killed Capitalism | BUSINESS ; ECONOMICS | DIARIES | Economics | letters and journals | POPULAR ECONOMICS | Theory

Description

No one noticed when capitalism died.Perhaps we were too distracted by the implosion of global finance, or the rise of populism, or the demise of the planet – or all of those cute cats on Instagram. But gradually, quietly, a yet more exploitative new system has taken hold: techno-feudalism.Written in the form of a letter to his late father, who first taught him about the power of new technologies to shape human history, Yanis Varoufakis explains how Big Tech has effected an invisible but fundamental transformation in all our lives.Drawing on stories from Greek Myth and pop culture, from Mad Men to Karl Marx, he explains how the key ingredients of capitalism – profit and markets – have both been replaced. And he exposes the hidden connection between your personal data and the transformative power of ‘cloud capital’ which means that without our realising it, we are all working every day for the tech giants, for free.

Additional information