this post was submitted on 26 Sep 2023
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‘Capitalism is dead. Now we have something much worse’: Yanis Varoufakis on extremism, Starmer, and the tyranny of big tech::In his new book, the maverick Greek economist says we are witnessing an epochal shift. At his island home, he argues it’s now the ‘fiefdoms’ of tech firms that shape us

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[–] [email protected] 41 points 1 year ago* (last edited 1 year ago) (9 children)

That's just capitalism. But I guess when you benefit so greatly from the system, you can't risk rocking the boat by talking about it openly. So you have to invent scary new names to smokescreen the root of the matter. "Technofeudalism", "Neo feudalism", "corporatism", "crony capitalism" etc, is such crap. It's still just capitalism.

Ignoring the ridiculous manner in which the article is written, look at the clownish arguments being made.

He charges rent. Which isn’t capitalism, it’s feudalism.

I know you have an island home dickhead, but the rest of us have been paying plenty of rent under capitalism.

[–] [email protected] 12 points 1 year ago

Capitalism has a definition. He’s saying that the markers that define Capitalism (as opposed to Mercentilism, Feudalism, etc.) are no longer there.

Specifically he’s saying that you can now no longer be on the top rung by privately owning the means of production, which is probably the biggest hallmark of Capitalism.

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