Technofeudalism and Cloud Capital: A Conversation with Yanis Varoufakis

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Stanford in Government (SIG)

Stanford in Government (SIG)

Жыл бұрын

Is a new economic model toppling capitalism? Yanis Varoufakis, the former Greek Minister for Finance and current leader of the MeRA25 Party, discusses the future of capitalism, his theories of technofeudalism and cloud capital, and the invasion of Ukraine. This event was hosted on April 4, 2022 by Stanford in Government member Ryan Cieslikowski.
Stanford in Government (SIG) is Stanford's preeminent organization for students dedicated to public service and civic engagement. To learn more about SIG, follow us on Instagram (@stanfordingov), Facebook (Stanford in Government), and Twitter (@stanfordingov). You can also visit our website:

Candi Corral
Candi Corral Күн бұрын
I appreciate that Dr. Varoufakis is willing to present in various venues. Really of the people.
jameseglavin4 Жыл бұрын
Yanis is an important and very necessary voice, and is getting more important all the time. Also, his book Another Now is great and I think would go a long way to opening the eyes of the average person (especially here in the US) in terms of what is politically and economically possible. Thanks so much for this video!
Roger Smith
Roger Smith Жыл бұрын
This is the only guy in the world who knows what the hell is going on and the elites vilify him for it. Much respect.
filmjazz Жыл бұрын
Check out Michael Hudson and Steve Keen. They also know what’s going on.
Meg Thornton
Meg Thornton Жыл бұрын
Still behind on the solution wbich is taking over
Sunny Perka
Sunny Perka Жыл бұрын
@Roger Smith it is not exactly like this. Apart from the financial debt that already existed the way that Yanis handled the whole situation was catastrophic. I am from Greece and I can assure you Yanis is not at all popular in Greece. People think of him as a joke. His party (Mera 25) has an insignificant percentage.Where do you get your information from? Perhaps you should read Greek articles from Greek reporters in English otherwise you get misled.
alchemist Жыл бұрын
Well done from both. Its always refreshing to hear Yanis break away from the conventional economics theories with thoughts of his own. Brilliant.
Joe Adams
Joe Adams Жыл бұрын
Heya alchemist, I think we are witnessing a new important relevant and gifted Theorist and logically grounded communicator. His views and observations make my day ( and disturb me incredibly) Regards.
alchemist Жыл бұрын
@Joe Adams Agreed 💯
Tushar Singh
Tushar Singh Жыл бұрын
Professors should've cancelled their classes so that they could attend this great lecture.
Petros Stefanidis
Petros Stefanidis Жыл бұрын
hahaha well said!
Pushpa Anamcara
Pushpa Anamcara Жыл бұрын
Excellent interview. There’s a cancel culture in governments and corporate governance against those who know and speak the truth. Conformity rules the roost. I have myself suffered this fate and understood how “fate” flitters off people like Yanis. But truth is a prevailing paradigm in evolution, even economic evolution.
Jared Жыл бұрын
I think that Truth ultimately wins out, but not always at a time-scale for it to positively impact those living amongst multitudes of lies.
Adam Dreisler
Adam Dreisler Жыл бұрын
Is this guy brilliant or what...? His knowledge and intelligence just bursts out from the screen... a true greek (economic) philosopher of the 21st century... much love and respect!
Alexander Lavin
Alexander Lavin Жыл бұрын
This guy always has accessible but insightful observations on history.
Vincent Reynaud
Vincent Reynaud Жыл бұрын
Fascinating talk! Yes I was also wondering if there are any readings or other resources that might be inspired by or point to the ideas mentioned in the conversation. I would find it useful to draw on these ideas beyond the live stream. thanks
Julie Ann Myers
Julie Ann Myers Жыл бұрын
My father was a CBS ad man. My brother is a Big Pharma C-suite exec. My son is an AI PhD research developer for Google. My daughter is an anesthesiologist doing a fellowship at Johns Hopkins. These trends affect our lives directly... and certainly mine. I was an academic in the applied arts... I seem to have been born rejecting the entire system... its political ideologies, its religions, its social arrangements & norms, its narrow, limited & constricting economic structures. I don't know how other born critics & misfits do it... I've been drowning all my life. I've never been able to accommodate myself to any of this. I've had moments of ecstatic happiness in my life, but most of it since about age 12 has been a long slog swimming against a riptide that has become a whirlpool. Since about 1999, I've been haunted by the vision of what I saw as inevitable... fascism, authoritarianism... totalitarianism. Dystopia. Since 2007, nothing has surprised me until the plandemic. I predicted the manufacturing of war & rampant inflation, but the exploitation of a "leaked" bioweapon was farther than I thought they would go. I started using the term "neo-feudalism" -- though I had never heard it elsewhere -- in about 2008... people like Yanis reassure me of my sanity, at the very least. Thank you, Prof. Varoufakis. Frankly, I prefer the idea of a bucolic, low-tech, ecologically balanced life free of computerized, globally networked technology. I would happily go "back" to a way of life that is less easily centralized, financialized, militarized & surveilled. "Giving up" Siri, Alexa & Google to get there is a no-brainer. I'll volunteer to be the executioner, if no one else can bring themselves to do it. Pull the plug!
Palomino 6 ай бұрын
The tide rises, the tide falls, The twilight darkens, the curlew calls; Along the sea-sands damp and brown The traveller hastens toward the town, And the tide rises, the tide falls. Darkness settles on roofs and walls, But the sea, the sea in the darkness calls; The little waves, with their soft, white hands, Efface the footprints in the sands, And the tide rises, the tide falls. The morning breaks; the steeds in their stalls Stamp and neigh, as the hostler calls; The day returns, but nevermore Returns the traveller to the shore, And the tide rises, the tide falls. Henry Wadsworth Longfellow
MrsNoceur 5 ай бұрын
@Julie Ann Myers, I hope it won't sound horrible, but it is comforting to know that there are other "misfits" that are "drowning", because they just cannot adjust to the system. It feels so lonely sometimes.
Dinner with Franklin
Dinner with Franklin Жыл бұрын
I enjoyed Another Now and think Yanis did a very good job of showing one possible way of implementing and alternative system. The left can be pretty light on alternatives for the future and I think this needs to be addressed by us
Antony Liberopoulos
Antony Liberopoulos Жыл бұрын
Thank you Ryan. Thank you Yanis for helping us see with more depth and clarity the economic model.
Rogue Cow
Rogue Cow Жыл бұрын
This is excellent--Yanis needs to talk with Alison McDowell--she has done a fantastic job laying the groundwork for how this technofeudalism is unfolding in USA.
Reggie Bald
Reggie Bald Жыл бұрын
Very well done; good job!
Hamid Tabrizi
Hamid Tabrizi Жыл бұрын
Yanis, thanks for the talk. I suggest perhaps a few modifications and updates. It is more inclusive and descriptive if you refer to it as the "Centralized Cloud Based Capital (web)" controlled by the super computer "farms" of Technofeudals as you have put it, that is a feature of Web 2.0. On the works and coming soon to the computer near you is the "Decentralized Blockchain Based Web" controlled by pear to pear network of personal computers, that is a feature of Web 3.0. This is going to create an alternative "Another Now" worth studding and analyzing. All the best.
Manuel Larrabure
Manuel Larrabure 2 күн бұрын
Capital never overthrew rent completely. Indeed, in the periphery (which provides key natural resources without which capital wouldn't exist), the logic of rent is arguably dominant.
Ganesh Ariano
Ganesh Ariano 5 күн бұрын
He went from Bretton-wood to "Techno Feudalism", as he names it, without touching neo-liberalism, the actual bridge.
Riccardo Scarpa
Riccardo Scarpa Жыл бұрын
A brilliant and (as usual) original perspective
hexlgaming 2 ай бұрын
The idea of owning your data seems obvious to me and then having to pay for the services you use shouldn't pose a problem, unless you use a lot of services, that you don't at all value. Everyone getting a vote and having a bank account at the fed directly seem very logical too, although it would be good for these two things to be options and not things you're forced to do, because it would be nice for everyones vote to be equally valued, but sometimes it would be beneficial if there is that one guy to guide a big decision, weighing in heavier. For example it is highly beneficial how as the legends suggest at toyota everyone can stop the production line without precautions if things are spotted that could be improved or that are not working correctly, but when times get tough it's nice to have a caption on a ship that is responsible and if anything were to happen would go down with the ship as only he alone would be responsible
joe blow
joe blow Жыл бұрын
The gap in power, wealth, political influence (etc) between present day techno-feudal lords (Jeff Bezos, Elon Musk, Bill Gates, the Google gangsters, etc).....and an ordinary human being that has to work for a living.....that gap is so big it makes the original feudal lords and the serfs they lorded over look like brothers. The abuse that took place between lord and serf is magnified many times over by the abuse (actual or potential) that the modern day techno feudal lords can inflict on society.
Jennifer L
Jennifer L Жыл бұрын
But you heard the student say he and his cohort don’t mind giving up data for convenience. Therein lies the problem.
Roger Smith
Roger Smith Жыл бұрын
Wait till they control the food supply. They are working on it. At some point I expect them to raise mercenary armies for their protection. Maybe build castles.(Probably in the National Parks).
Evel Custom
Evel Custom Жыл бұрын
I think the point that he makes at 4:47, about capitalism overthrowing itself is very poignant, and may in fact be the exact thing that Marx was saying from the very beginning. Now, I am not super versed in Marx, but my understanding is that he was not so much calling for the workers of the world to start a revolution, but rather predicting that one would come. The time scale may not have been what was anticipated by anyone, but society may very well be steadily marching along to that very drum.
Josh Mason
Josh Mason Жыл бұрын
I really really want Yanis to have a long sit down yarn with author Michael Lewis. Hopefully if I comment this in enough places it will come to fruition
Erik Parsels
Erik Parsels 7 ай бұрын
We could call this period "rentierism" I suppose, because it entails rentier extraction of profits whether production takes place or not through tolls on everything.
Conan Duke
Conan Duke 10 ай бұрын
I love how Yanis has sort of fashioned himself into a sort of neo Arthurian Merlin.
Vincent Ruben
Vincent Ruben Жыл бұрын
Rohgish DA Buildmonger
Rohgish DA Buildmonger Ай бұрын
When he explains as far as all those conglomerates being able to scale and grow without the need of having to have a profit, this is what hes speaking of when saying that capitalism has changed, morphed into the chimeric situation it is in our present Day.... that actually is powered upon the values that are placed upon a product deemed essential or able to be deemed essential. Unto the people who are converted into mere consumers as opposed to needy humans.
Summondadrummin Жыл бұрын
If we don’t wisely organize the means of exchange, organizing the means of production will likely be impossible
semigeniusreally Жыл бұрын
I live my life based on three simple, clearly observable principles: 1. The essence of human history is circular not linear, and while the particular circumstances of history may change, the essence of those circumstances do not. 2. What goes up must come down. 3.The bigger you are the harder you fall - and, based upon Principles 1 and 2, you WILL fall! These three principles, when combined with risk-reward analysis, has guided my adulthood lin a most postive direction. I factor in failure and disappointment to my equation of life, but once they occur - and they WILL occur - their effects are immediately ameliorated. The idiots whose favorite phrase is "I don't factor in failure!" are walking on a tightrope without a net and, when they fall, they usually fall like an egg falls, not like a rubber ball.
bradipous Жыл бұрын
always worthy to listen to this man
Summondadrummin Жыл бұрын
as long as the unit of account is owned, the discussion regarding ownership will have little effect, ie if the media of exchange was created as a public utility the orientation of the economy would move more towards common ownership,
mark collins
mark collins 2 күн бұрын
All governance will descend into oligarchy, plutocracy and fascism at rates that are determined by the quality and stability of its consensus seeking strategies, the tolerance of bad faith actors in its processes, its best practices policies and the documentation of data that goes into the making of its policy choices. They cannot be compared outside that framework in regard to speed of that descent. Consensus seeking strategies are what create the possibility of a society. Anything less creates a war zone. As such these are the foundational topics of establishing a healthy society.
Rez Жыл бұрын
just a quick note that not everyone has voting right. we make a collective decision about what age people are eligible to vote. That is no different to make a decision, a collective decision. about at what age they lose the right to vote, or what sort of education or tax status or qualification etc you need to have to be able to vote
Jordan James
Jordan James Жыл бұрын
44:20 - people are not privileged enough to be able to talk about technofuedalism they want to come home crash out and get lost in Tik Tok it’s so true , insanely true - heads down exhausted
Lee Alexander
Lee Alexander Жыл бұрын
People like Yanis, Jeramy, Lula and Bernie should rule the world in my opinion m
Michael White
Michael White Жыл бұрын
Yanis needs to be the leader of our new world federation! 👽💪
Tennessee Jed
Tennessee Jed Жыл бұрын
Man, he really gets the macro picture!
Wes Christiaens
Wes Christiaens Жыл бұрын
He was also a professor in economics before he was finance minister of Greece.
Nelson Guedes
Nelson Guedes Жыл бұрын
But wait! There is more! Those are not the only two requirements of the free market. Full information, for instance, is another requirement which has never been satisfied. Also, the story of marketing starts earlier than that. Ralph Borsodi covered it in his book "The Age of Distribution", back in the 1920s.
Matt Erbst
Matt Erbst Жыл бұрын
Market Fundamentalism is a religion that gives me nearly as many headaches as Christian Fundamentalists do! Best wishes mister Nelson Guedes, Matt Erbst
Vivalaleta Godfrey
Vivalaleta Godfrey Жыл бұрын
In essence, the difference between aristocracy and what we have is that any asshole can claw their way to the top. You don't have to be born to it (but it sure as hell helps).
Federico Pettinicchio
Federico Pettinicchio Жыл бұрын
I like Yanis' assessment but there are dangers insit in there too, just like capitalism devolved to this, the main issue is that the one worker one share idea works wonderfully until you realize the danger. What happens when you don't work because you are automated? I am afraid it could be even more dangerous than the current system in the face of upcoming automation if introduced without deep thought about how automation might relate to it. Because a 1 vote 1 share system has an already built-in tendency to love downsizing and splitting itself based on function but it risks to create a series of caste systems within each company with non-workers being casteless. There are serious concerns here. Many of the concerns I have with his system I share with ours mind you, that has its own special ones as well. I think that in order to prepare for automation we need to come up with a system that is flexible to the idea that work should always go unrewarded and simply be a choice, something you do for yourself or for others but that doesn't get you much more than expressing yourself and in which capital doesn't result into power. I know such a system clearly isn't compatible with right now, and I wouldn't even consider it desirable right now, but we need to transition towards systems that can more easily transition into it when the need arises because all indicators in our future tell us that we either have a way to get there or the danger for dystopian outcomes in the future is tremendously high.
Sid Жыл бұрын
good analysis!
Lily Pang
Lily Pang Жыл бұрын
A necessary voice for today!!!! American Have lots to learn from the world beside self center!!!
Angelos Papamichail
Angelos Papamichail 5 ай бұрын
Summarization from chatGPT: In this video, the concept of technofeudalism is discussed as a force that is undermining and replacing capitalism. Technofeudalism, a centralized system driven by cloud capital and algorithms, is considered worse than capitalism. It is said to have emerged due to the manufacturing of desire for overproduced products through advertising and the rise of the techno structure. Free-to-air commercial television and cloud-based algorithms like Alexa and Google Assistant are forms of capital that can influence and control our behaviors. Cloud capital, a new form of capital connected through the cloud, grants its owners immense power over society. It is not driven by private profit and markets but by central bank money and algorithms. Yanis Varoufakis critiques capitalism and proposes a more democratic and decentralized economy through breaking up large corporations democratically, implementing universal basic income, and adopting a one-person one-share one-vote system. He also emphasizes the importance of pursuing passion-driven careers. The current techno-feudalistic system is said to be destroying lives and exacerbating inequality. Change will come when people recognize the system's flaws. Solutions include a bill of digital data rights to ensure individual data ownership and payment for services.
Rohgish DA Buildmonger
Rohgish DA Buildmonger Ай бұрын
Maged Ismail
Maged Ismail Жыл бұрын
Starts at 1:30
The Tykecast
The Tykecast Жыл бұрын
Communists need to come to terms with the idea that new classes can emerge and seperate from existing classes due to technological changes and that each change in system doesn't necessarily reduce the number of classes.
Dinner with Franklin
Dinner with Franklin Жыл бұрын
If by "classes" you mean Marxist's definition I am not sure you understand the concept. He divided society into those who sell their labour and those who extract the surplus that the first class creates. There are many groups in society today but it remains true that there are only two classes. Those who sell their labour and those who profit from the labour of others.
Alexander Woermann
Alexander Woermann Жыл бұрын
Lee Alexander
Lee Alexander Жыл бұрын
I like Yanis very much. His ideas are good if you happen to be on the left.
C H Жыл бұрын
They're good period.
Roger Smith
Roger Smith Жыл бұрын
He just said the left is irrelevant.
Navid Khan
Navid Khan Жыл бұрын
I dunno why but Sometimes I feel like Yanis will turn into a vampire and go on a rampage! Lol
Gunni1972 Жыл бұрын
Party politics: When the USA is your Bartender and Dj, because you don't want to discuss with your peer parties.
Konstantine Mitsel
Konstantine Mitsel Жыл бұрын
Best Bitcoin advertisement ever!!!
Anubis 11
Anubis 11 Жыл бұрын
Thank you
Xpeng Fangirl
Xpeng Fangirl Жыл бұрын
the host looks like how an AI bot would be, act, and conduct themselves, like a universal bot and example of all tech mixed together in one package
Todd Maek
Todd Maek Жыл бұрын
Samvel Kapukchyan
Samvel Kapukchyan Жыл бұрын
If you trust an employee with a vote and a share only for a menial task how is that fair to thinking, selling, producing, and more highly trained individuals in a company. I love his analysis, but the solution is not very well thought through. It's missing a maxim.
John Nopeyy
John Nopeyy Жыл бұрын
Are you sure you think? 😂
Patrick Daly
Patrick Daly Жыл бұрын
It's fair because despite all this high skilled people doing the brain work you can't do everything by yourself you need to leverage the "unskilled" labor to provide the advantages of scale for large enough revenues. If you could have done it by yourself you would have. Fact of the matter the brains need the menial brawn...they need each other, dependent origination of sorts. Also, AI is coming for the "high skilled" labor too. Robots already do some surgery, AI does legal research that used to be done by paralegals and lawyers, self driving trucks, ect ect multiplied by Moores law soon all tasks will be menial...the point is one person one vote...some people are not more equal than others.
Samvel Kapukchyan
Samvel Kapukchyan Жыл бұрын
@Patrick Daly You are describing equity, and it is not fair. Although men are equal under the law, they vastly differ in ability, and intellect, such is the nature of the world, and the cream rises to the top. However, if you do not reward this yearning for betterment then you end up with a mediocre society, case in point, current American culture.
Jared Жыл бұрын
@Patrick Daly your argument works in reverse too, at least arguably. Like if the menial labor had other options and could do it without the brains, then they would do it! Menial labor needs brains! What sorts this out to some degree is supply and demand such that labor enters into agreement with capital management over the price of the exchange. I don't think this universally applies or is not often gamed. I think we need better than that. A better system of feedbacks and incentives that preserves some level of decentralization while correcting for some of the unpalatable game theory and bad incentives. I think the answer is in part spiritual, but something adapted to modern conditions while connected with being human. Not an easy thing
Patrick Daly
Patrick Daly Жыл бұрын
@Jared well does have a spiritual or philosophical component that was I was hinting at with dependent origination...I do wonder how free the exchange of labor for wage is really, Like u said's basically both employer and employee has skin in the game so both should have a say, and I think that the system we have largely privileges capital over labor, it's just gotten too lopsided.
Yves Free-Assange Scherdin
Yves Free-Assange Scherdin Жыл бұрын
thank you
Tamas Kalman
Tamas Kalman Жыл бұрын
criticising capitalism while having two corporate surveillance machines in your living room is an interesting stance :)
Gregory Жыл бұрын
Keep your friends close, but keep your enemies closer. Or to put it another way, know your enemy. And in order to do that, you need to study them up close and personal. Or at least, study their instruments up close and personal.
妈祖 Жыл бұрын
sebold Daniel
sebold Daniel Жыл бұрын
Both these guys would look great Tchaikovsky ballet tights discussing the future of capitalism in Russia, and the end of sexism in America.
biff schmuckatelli
biff schmuckatelli Жыл бұрын
Varoufakis is a nice, well meaning man, but frankly he has no track record of success. He was in the Greek government when his party won a surprise election but nothing meaningful came of it. I would rather have people that successfully implemented transformative change rather than mere talkers. We have more than enough of those types.
Electro Minded
Electro Minded Жыл бұрын
He is more of an academic, visionary and human library than a politician.
Dinner with Franklin
Dinner with Franklin Жыл бұрын
There are quite a few videos of him describing his experience when he went to the troika. And he wasn't fired from his political position, he quit because he decided to stay independent of the political machinations he encountered as finance minister. I think you would benefit from learning a bit more about his career.
Thomas Bentele
Thomas Bentele Жыл бұрын
A greek minister of finance can do nothing, when Wall Street, City of London and so on doesn't like what he wants. At least, he tried to get back to a national currency, and lectured the greek people using his publicity.
Silot 4 ай бұрын
He was not a member of the elected party he was asked to help the Greek government at the time to negotiate with the EU Troika , then the elected party leader Tsipras succumbed to the pressure and threats and told Troika that they should not listen to Varoufakis anymore and that they would reach an agreement no matter what the cost, so the negotiations were rendered useless and Varoufakis resigned he had no real power anymore.
Was Philip Joy
Was Philip Joy 6 ай бұрын
What happens if the Cloud goes down? Lack of investment in the Web infrastructure, as the quality of this video proves, has been a symptom since 2008. What happened to 5G?
Charles Hubbard
Charles Hubbard Жыл бұрын
Talk about covid 19 and the Christmas profits motivates in china,usa,and the world 🌎 😳
Katarina Krajna
Katarina Krajna 3 ай бұрын
Ak to nezmeníte padnete do 18.storočiav čom už ste teraz po krk😂
Indonesia Menggugat
Indonesia Menggugat Жыл бұрын
professional car photography
professional car photography 8 ай бұрын
professional car photography
professional car photography 8 ай бұрын
tproeber Жыл бұрын
Employees voting on company direction? I don't see how that works.... WELL.
JetLaGGed 8 ай бұрын
I recommend reading about the Mondragon Corporation in Spain.
David Evans
David Evans Жыл бұрын
Who runs the world ? Money runs the world. At the same time the biggest religion ever on earth ?, Servitude to money went global.
Elijah Oster-Morris
Elijah Oster-Morris Жыл бұрын
Did Yanous just explain “eat da bugs”?
Maioio 4 ай бұрын
ECOFASCISM. In or dead.
ZEN TANGO Oscar Wright
ZEN TANGO Oscar Wright Жыл бұрын
Volume too low
Jon L
Jon L Жыл бұрын
Would love to see this guy debate peter schiff.
Haganenno Жыл бұрын
I've been giving much thought since Yanis first made this argument regarding eroding profitability and it does not seem to hold any merit. The "system" is not hoooked on QE, the most important businesses still make profits and their profit margins have not been eroding - Google, Apple, Microsoft, Visa, telecommunication firms, etc. all make money. Just because many services are currently provided with discounted prices thanks to cheap investments into these businesses (like Fintech payment alternatives offering cheaper services compared to banks) does not constitute a break in the "system". Although the identified problems posed by platformisation of the economy ("tech fiefdoms") are very interesting!
Haganenno Жыл бұрын
@Arvind Parthasarathy how are you supposed to break up a platform? Besides, even if you break up Amazon e-shop into 5 ecommerce platforms, let's say, they would still have sectoral interest, meaning they would unite under some association and lobby anyway. Source: am lobbyist
I Wonder
I Wonder Жыл бұрын
But the only companies you mention that make profit is, according to him, Technofeudalistic. Isn't this his point? The new economy is profit for owners of these fiefdoms and we are the serfs. So for the rest of the system to function outside of these fiefdoms, we are hooked on QE.
Haganenno Жыл бұрын
@I Wonder That is factually wrong. Corporate profits are at historic highs in the recent decade. That's not only the "fiefdoms". Not to mention that many of these digital platforms - such as Uber - are exactly the ones that are not making profits. Either way, profit margins are increasing across the economy.
I Wonder
I Wonder Жыл бұрын
@Haganenno I'll do a bit of digging and get back to you.
kkkfts 4 ай бұрын
"Professors are busy"
Sakari Karisto
Sakari Karisto 6 ай бұрын
Maybe it's in my head, but I did not understand what Mr. Varoufakis wanted to say. I listened him speak non-stop for 40 minutes, and I am confused. What does he want to say? Is he saying that he doesn't like how things are today?
Sakari Karisto
Sakari Karisto 6 ай бұрын
If he is concerned about people he doesn't like, better get rid of them right? Take the bull by the horns.
Nestor Makhno
Nestor Makhno 5 ай бұрын
Summarization from chatGPT: In this video, the concept of technofeudalism is discussed as a force that is undermining and replacing capitalism. Technofeudalism, a centralized system driven by cloud capital and algorithms, is considered worse than capitalism. It is said to have emerged due to the manufacturing of desire for overproduced products through advertising and the rise of the techno structure. Free-to-air commercial television and cloud-based algorithms like Alexa and Google Assistant are forms of capital that can influence and control our behaviors. Cloud capital, a new form of capital connected through the cloud, grants its owners immense power over society. It is not driven by private profit and markets but by central bank money and algorithms. Yanis Varoufakis critiques capitalism and proposes a more democratic and decentralized economy through breaking up large corporations democratically, implementing universal basic income, and adopting a one-person one-share one-vote system. He also emphasizes the importance of pursuing passion-driven careers. The current techno-feudalistic system is said to be destroying lives and exacerbating inequality. Change will come when people recognize the system's flaws. Solutions include a bill of digital data rights to ensure individual data ownership and payment for services.
Jac Pratt
Jac Pratt Жыл бұрын
bit hard to follow with jumpy sound. Bretton Woods as New Deal ?- what's that about.? Should I ask Prof Wolff?
shawn burnham
shawn burnham 8 ай бұрын
Renata Wojtczak
Renata Wojtczak 3 ай бұрын
Seriously, "Mad Men"??!! This is just nonsense!!
Andreas G.
Andreas G. Жыл бұрын
how can we can resolve the major flaw of socialist alternatives? central planning is the weekest link within such alternatives.
Tiberio mach
Tiberio mach Жыл бұрын
the usuary is over
Wils kr8
Wils kr8 Жыл бұрын
He always talks so much and says so little.
andrea erling
andrea erling Жыл бұрын
He says a lot, grappling with complex issues in a very eloquent way. His appeal to the masses is zilch.
Angie Zeedogg
Angie Zeedogg 9 ай бұрын
@andrea erling No… Wils kr8 was correct the 1st time .
Wes Christiaens
Wes Christiaens Жыл бұрын
Capitalism in itself is not the problem, the problem is we dont have real Capitalism anymore. Normaly taxes are used for the common good and to redistribute some of the welt. This way theorecticaly there can be no monopolies or oligarchs. In modern Capitalism wealth has influenced politicians to wright the laws in favor of oligarchs, wallstreet and big company's. In Americas "golden age" there was a 90% rich or wealth tax. Every profit over 1 miljon dollars was taxed at that rate. Now they pay no tax, but take the money of the taxpayers to bail them out. In Europe its the same but the people at least have good healthcare and social systems in place.
Good Luck
Good Luck Жыл бұрын
Shadowman4710 Жыл бұрын
You have exactly "real" capitalism. This is what it looks like late stage.
adriyk Жыл бұрын
@Shadowman4710 exactly! People that bemoan the loss of ‘real’ capitalism are oblivious that what we have is capitalism in its late stage.
C H Жыл бұрын
This is #LateCapitalism.
ToriZealot Жыл бұрын
@adriyk So Stalinism was just middle Socialism?
Samuel Orji
Samuel Orji Жыл бұрын
No yanis you were the load balancer, please sit down. Sincerely Africa 🌍
Jordan James
Jordan James Жыл бұрын
v Bremont
v Bremont Жыл бұрын
It is possible you are addressing a problem with a logic that is perhaps outdated / meaning that how the realm evolves is no longer possible for most to understand it, possible a question of time and the technological environment where humans are now developing. India will not get anywhere by applying reasons & logic that are outdated. The cause can be described as a whale that has lost his way and ends up on a sea shore stuck on the sand. What happened to the whale is his guidance system that no longer detects the proper path to return to the north sea. the same phenomenon can take place on a human mind & he can end up stuck on a sea shore not understanding neither how it happened ²& why, unable to understand facts and reality the mind keeps applying solution to a problem that is no longer the same problem you are used to know & understand in such a situation, a chaos and a general collapse is unavoidable. for some reason unknown the current system that humans have existed by since 1913 no longer works and put you on the same position as the whale & there is nothing that anyone can do until something happens or an external help or event wakes up consciousness and helps it to reflect . 🤔🤑🤐😶‍🌫️📱🪐
Roger Smith
Roger Smith Жыл бұрын
A new depression will sweep away the old. It will not be pretty.
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