Adam Dalliance on Nostr: I read "Technofudalism" by Yanis Varoufakis, in which he describes the collapse of ...
I read "Technofudalism" by Yanis Varoufakis, in which he describes the collapse of Capitalism in 2008, and the rise of cloud capital as the economy instead forms around the restricted not-free markets like Amazon and the other web monopolies.
Capitalism does seem to have broken down in 2008 with the transfer of the bankrupt bank balance-sheets onto the public ledger, and the money-printers since then funding asset-inflation and driving down the power of the workers.
He describes the way the non-free cloud "markets" operate and the way asset-price inflation driven by the money printing is funding the monopolization of the network.
I'm not really convinced that the new situation will be long-lived enough to call it a replacement for capitalism though. The money-printer driven economy doesn't seem stable enough to last, though it's collapse may well be uncomfortable to the point of deadly.
#reading #books #capitalism #feudalism #technoFudalism
Capitalism does seem to have broken down in 2008 with the transfer of the bankrupt bank balance-sheets onto the public ledger, and the money-printers since then funding asset-inflation and driving down the power of the workers.
He describes the way the non-free cloud "markets" operate and the way asset-price inflation driven by the money printing is funding the monopolization of the network.
I'm not really convinced that the new situation will be long-lived enough to call it a replacement for capitalism though. The money-printer driven economy doesn't seem stable enough to last, though it's collapse may well be uncomfortable to the point of deadly.
#reading #books #capitalism #feudalism #technoFudalism