Technofeudalism: What Killed Capitalism
Φεβ 2024 · Melville House
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“Blending intellectual memoir, history, and economic and technological history, Varoufakis creates an intimate atmosphere that is a genuine pleasure to read ... It’s hard to read this book and deny its power ... illuminating.” - The Washington Post
In a revelatory and pathbreaking work, the #1 international bestselling economist opens our eyes to the new power that is reshaping our lives and the world . . .
“The Thucydides of our time.” —Jeffrey Sachs
Big tech has replaced capitalism's twin pillars—markets and profit—with its platforms and rents. With every click and scroll, we labor like serfs to increase its power.
Welcome to technofeudalism . . .
Perhaps we were too distracted by the pandemic, or the endless financial crises, or the rise of TikTok. But under cover of them all, a new and more exploitative system has been taking hold. Insane sums of money that were supposed to re-float our economies after the crash of 2008 went to big tech instead. With it they funded the construction of their private cloud fiefdoms and privatized the internet.
Technofeudalism says Yanis Varoufakis, is the new power that is reshaping our lives and the world, and is the greatest current threat to the liberal individual, to our efforts to avert climate catastrophe—and to democracy itself. It also lies behind the new geopolitical tensions, especially the New Cold War between the United States and China.
Drawing on stories from Greek myth and pop culture, from Homer to Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power, and, ultimately, what it will take overthrow it.
In a revelatory and pathbreaking work, the #1 international bestselling economist opens our eyes to the new power that is reshaping our lives and the world . . .
“The Thucydides of our time.” —Jeffrey Sachs
Big tech has replaced capitalism's twin pillars—markets and profit—with its platforms and rents. With every click and scroll, we labor like serfs to increase its power.
Welcome to technofeudalism . . .
Perhaps we were too distracted by the pandemic, or the endless financial crises, or the rise of TikTok. But under cover of them all, a new and more exploitative system has been taking hold. Insane sums of money that were supposed to re-float our economies after the crash of 2008 went to big tech instead. With it they funded the construction of their private cloud fiefdoms and privatized the internet.
Technofeudalism says Yanis Varoufakis, is the new power that is reshaping our lives and the world, and is the greatest current threat to the liberal individual, to our efforts to avert climate catastrophe—and to democracy itself. It also lies behind the new geopolitical tensions, especially the New Cold War between the United States and China.
Drawing on stories from Greek myth and pop culture, from Homer to Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power, and, ultimately, what it will take overthrow it.
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Yanis Varoufakis is an economist, political leader, and the author of numerous bestselling books, including Talking to My Daughter: A Brief History of Capitalism, Adults in the Room, a memoir of his time as finance minister of Greece. Born in Athens, he was for many years a professor of economics in Britain, Australia, and the USA, before he entered politics, serving in Parliament until May, 2023. He is currently Professor of Economics at the University of Athens, and is Secretary-General of Democracy in Europe Movement 2025 (DEM25).
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