Technofeudalism

Technofeudalism is a concept, notably popularized by economist Yanis Varoufakis, that describes a potential future economic system. It's not a widely accepted term but is used to draw parallels between certain aspects of modern society and feudalism. Here's a breakdown:

Feudalism: In historical feudal societies, a small elite (landlords) controlled essential resources (land) and labor, while the majority of people (serfs or peasants) were dependent on them.

Technofeudalism: This concept suggests that, in our modern, increasingly digital world, large technology companies are becoming the new "lords." They control access to essential digital resources and platforms, and a large portion of the population becomes dependent on them.