Capitalism is dead, long live the techno-rentiers

In his new book, economist Yanis Varoufakis argues that we are essentially in a rentier economy, where technology overlords have become the new aristocrats

Techno-Feudalism: What Killed Capitalism

Author: Yanis Varoufakis

Publisher: Penguin

Pages: 214

Price: Rs 799

Yanis Varoufakis, maverick Marxist economist, former finance minister of Greece, and raconteur par excellence, proposes an original and controversial theory in his new book, Techno-Feudalism . While many of his contemporaries have bemoaned the fact that we are experiencing the darkest side of capitalism, Mr Varaoufakis says that capitalism — at least as it is understood in the classical sense — is already dead. It has been replaced by something infinitely worse — a new form of feudalism where tech giants have essentially taken over all assets and force citizens