Yanis Vourofakis thinks we end up with technofeudalism. Profits are abolished and rent seeking becomes the dominant force of wealth accumulation on the economy.
idk how much I agree with his book, but it was neat I guess
Yanis Varoufakis just put a new label on monopoly capitalism. Marx wrote about it already. The end stage of capitalism is monopolies everywhere who charge monopoly rents, because rents are the easiest form of profit. No investment, just money.
Yeah, I could only think while reading his book that there’s little difference between tech oligarchs charging rents for data centers and railroad barons charging rents for access to the railroad. He doesn’t do anything to address this obvious historical antecedent.
Yanis Vourofakis thinks we end up with technofeudalism. Profits are abolished and rent seeking becomes the dominant force of wealth accumulation on the economy.
idk how much I agree with his book, but it was neat I guess
Yanis Varoufakis just put a new label on monopoly capitalism. Marx wrote about it already. The end stage of capitalism is monopolies everywhere who charge monopoly rents, because rents are the easiest form of profit. No investment, just money.
Yeah, I could only think while reading his book that there’s little difference between tech oligarchs charging rents for data centers and railroad barons charging rents for access to the railroad. He doesn’t do anything to address this obvious historical antecedent.