this post was submitted on 09 Mar 2025
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We live in techno fuedalism, where rather than two parties exchanging value holding assets, now a tech billionaire sets the price for the seller and buyer, via owning a "marketplace" such as ebay, amazon, steam, temu, ect... They also take a cut of every transaction.
This is no longer a two party free exchange of goods, such as idealized under Capitalism, it's a different system.
It's what Yanis Varifakous calls Techno fuedalism. Hence the Oligarchs feeling invincible and more worthy than everyone else.
We live in capitalism. Calling it any other than capitalism just provides and option for capitalism to avoid critique. For example one can say the issue is techno feudalism, not capitalism. While in fact it is capitalism all the way down.
It's simmilar when people use, this is "crony capitalism", while it's still just capitalism,