Episode #206 - Capitalism is dead. This is Technofeudalism. (Yanis Varoufakis)
Episode #206 - Capitalism is dead. This is Technofeudalism. (Yanis Varoufakis)
This episode explores economist Yanis Varoufakis’s argument that capitalism, as we’ve known it, is already over—and we’re now living in what he calls “technofeudalism.” Unlike capitalism, which is based on markets and profit, this new system centers on digital platforms controlled by a few powerful tech companies that charge rent-like fees and use algorithms to shape behavior. Varoufakis compares this structure to medieval feudalism, where landowners held power, but today it’s data and behavior that are controlled. The episode traces how the 2008 financial crisis and massive money printing helped create this system, where ownership and control are increasingly concentrated. It also explores how this shift impacts everyday life, from economic inequality to political division, and offers ideas for moving forward—like regulating tech differently, exploring shared ownership models, and rethinking our relationship with digital platforms to make them more democratic.
Further Reading:
Technofeudalism: What Killed Capitalism by Yanis Varoufakis (2024)
The Age of Surveillance Capitalism by Shoshana Zuboff (2019)
Chokepoint Capitalism by Rebecca Giblin and Cory Doctorow (2022)
See the full transcript here
Thank you to everyone who makes this podcast a possibility in the future.
I could never do this without your support! :)
