The idea that we are entering an era of techno-feudalism that will be worse than capitalism is chilling and controversial. We asked former Greek finance minister Yanis Varoufakis to elucidate this idea, explain how we got here, and map out some alternatives.
It’s meant to be an evolution of feudalism as the people creating capitalism are effectively the remnants of power from feudal society. There could be absolutely no industry and it would still be the system the non-royal but powerful would select.
Look at the transition from the articles of confederation to the US constitution and the focus on the creation of currency in article 1. The “rights” people talk about were pushed for by the opposition to the constitution. The US constitution created effectively a capitalist version of the British empire and is analogous to the house of commons/lords/king. There was no term for the presidency, it could be for life and federal senators weren’t even voted for.
I’d argue it’s effectively just an iteration of feudalism.