568
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 05 Apr 2024
568 points (90.2% liked)
Memes
45602 readers
1201 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
According to Varoufakis, this is techno feudalism. He wrote a book about it. So arguably, it's not capitalism but by no means is it better than that
Varoufakis is just one of many people who have come up with fancy new terms for capitalism and imperialism. It's not to say that he doesn't have an important perspective on some things, but coming up with new terms for things defined over a century ago only serves to distract.
Wouldn't the best term be mercantilism? Power through the accumulation of wealth, but instead of nations it's now corporations. It's definitely not capitalist since capitalism is about having competition, and that doesn't happen without constant government intervention to break up monopolies and trusts.
over a century ago Lenin has defined imperialism as capitalism in decay, monopoly capitalism, capitalism that has outgrown competition, that has stopped playing a progressive role in history and became solely a force of reaction, and since then not much has changed