“Technofeudalism: What Killed Capitalism” by Yanis Varoufakis presents a radical new perspective on the economic transformation of the 21st century. In this thought-provoking book, Varoufakis argues that capitalism has evolved into a new system—technofeudalism—where giant tech corporations dominate global economies, not by traditional market competition but through platform monopolization and digital control. Unlike past feudal lords who owned land, today’s “digital lords” own data, algorithms, and networks, turning consumers, businesses, and even governments into digital tenants.
With deep economic analysis and real-world examples, Varoufakis examines how Amazon, Google, Facebook, and other digital giants have constructed a system where wealth is no longer generated through industrial production but extracted through digital enclosures. He explores how financialization, AI-driven automation, and the monopolization of technology have led to the decline of traditional capitalism, creating a world where corporate power overrides democratic control.
Summary Of Technofeudalism: What Killed Capitalism
In “Technofeudalism: What Killed Capitalism,” Varoufakis argues that we are witnessing the collapse of capitalism as we know it. Instead of an economy driven by free markets and competition, we now exist under a digital feudal system. Tech giants act as landlords, charging rent in the form of data extraction and algorithmic control rather than traditional monetary exchange.
The book takes readers through the historical evolution of economic systems, showing how feudalism gave way to capitalism and how capitalism is now morphing into something even more extreme. The rise of platform capitalism, the growing power of surveillance technologies, and the increasing role of AI in decision-making are all leading to a world where a handful of corporations dictate economic rules, leaving individuals with little power.
Through compelling case studies and economic insights, Varoufakis unveils the mechanisms behind this transformation and explores potential alternatives for a more democratic and equitable digital future.
Book Details
- Author: Yanis Varoufakis
- Publication Year: 2023
- Publisher: Bodley Head
- ISBN: 9781847927279
- Genre: Economics, Politics, Technology
- Page Count: 304 pages
- Formats: Hardcover, eBook, Audiobook
Ratings
Goodreads: 4.02/5 (3,922 ratings) |
Amazon: 4.5/5 (mixed reviews)
About the Author
Yanis Varoufakis is an economist, academic, and former finance minister of Greece. He is known for his critiques of global capitalism and his bestsellers like “Adults in the Room.”
Yanis Varoufakis interview on Technofeudalism
Why You’ll Love It
- Provides a fresh, radical perspective on capitalism’s future.
- Explores modern economic trends like AI, digital monopolies, and automation.
- Written by a world-renowned economist.
Who Should Read This?
- Economists, business leaders, and policymakers.
- Tech enthusiasts and political analysts.
- Readers of “The Age of Surveillance Capitalism.”
Similar Books & Movies
- Books: “The Age of Surveillance Capitalism” by Shoshana Zuboff, “Capital in the Twenty-First Century” by Thomas Piketty.
- Movies: “The Social Dilemma,” “Inside Job,” “The Great Hack.”
For more great book recommendations, check out our full collection on World Catalogue.