this post was submitted on 18 Feb 2024
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258
Are We Transitioning From Capitalism to Silicon Serfdom? (jacobin.com)
submitted 9 months ago by [email protected] to c/[email protected]
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Are We Transitioning From Capitalism to Silicon Serfdom?::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.

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[โ€“] [email protected] 4 points 9 months ago (1 children)

Markets aren't supposed to keep capitalism in check. Capitalism is an exploitation of commercial systems in order to maximize profits. Capitalism is at direct odds with the free market self-regulating. Capitalism is the bastardization of free market policies and destroys innovation.

[โ€“] [email protected] 2 points 9 months ago

I agree with all but the first sentence. Markets do a terrible job at keeping capitalism in check but they are supposed to, at least that's what capitalism stans argue.