Yanis Varoufakis: Capitalism has become Techno-Feudalism
The former Greek Finance Minister in conversation with Dr Marc Lamont Hill on Al Jazeera, February, 2021 Techno-Feudalism is a term that’s in the news these days. It may mean control of the data by the few FAANG companies – that’s Facebook, Amazon, Apple, Netflix; and Alphabet – formerly known as Google. Techno-Feudalism also applies to the dominance of finance and banking over state institutions – driving huge wealth inequalities.
Yanis Varoufakis is the former finance minister of Greece and Professor of Economics at the University of Athens. He is cofounder of the Democracy in Europe Movement DiEM25. That’s a pan-European political movement founded in 2016 by a group of Europeans, including philosophers and activists. They see [ . . . ]
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