Technofeudalism

About

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.

What does Yanis say about the solution?

He doesn't propose any concrete solution outside of 'revolt.' Gemini sez:

Varoufakis's work is primarily focused on analyzing and explaining the shift to technofeudalism. Therefore, his work focuses on bringing awareness to the shift, and the dangers it presents.   While his work is more focused on the analysis of the issue, he does imply the need for democratic control of the digital space, and the need to break up the large tech monopolies. He highlights the need for a change in how we view digital ownership, and how we interact with the digital world. Essentially, he is calling for a democratic revolution in the digital space. In essence, Varoufakis argues that we are moving away from capitalism and into a system where Big Tech wields unprecedented power, and that this shift presents a serious threat to democracy and individual liberty.  

OSE Solution

The economy has to unleash access to distributed economic prowess by education and open collaboration. We are recruting the first cohorts in the OSE Fellowship to work on this full time.