Technofeudalism: The Origins, Structure, and Decline of Capitalism

This text provides an in-depth analysis of the contemporary economic transformation, which Yanis Varoufakis defines as technofeudalism. The author argues that traditional capitalism based on profit and the free market is giving way to a system dominated by cloud capital and digital rent. In this new social structure, cloudists—platform owners—play a key role, along with vassalized capitalists and digital serfs. The article details the mechanisms of algorithmic control, the privatization of digital space, and the geopolitical rivalry between great powers. The article concludes with a proposal for technodemocracy, which proposes the democratization of companies and payment systems as a response to the power of digital gatekeepers. This is essential reading for anyone seeking to understand the fundamental transformation of production relations in the 21st century.