Technofeudalism - What Killed Capitalism
"Technofeudalism - What Killed Capitalism" by well-known Greek economist Yanis Varoufakis is the best book I've read in recent years! The central message: Corporations like Apple or Google sell licenses so that developers can program for their mobile operating systems. They don’t live off profits, but off license fees - essentially rent - and act like modern feudal lords who, for a fee, allow their vassals to cultivate the land. Such "cloud supercapitalists" exist in both the United States and the People's Republic of China; the remaining countries are vassals. This also explains the Biden administration's policy toward China, such as the ban on microchip exports. Even before this central message is presented, several chapters of this book deal with the history and metamorphosis of capitalism. We learn that under Roosevelt, the American economy was more like a planned, Soviet-style economy than true capitalism, which might also be the reason why the Aust...