Technofeudalism is a term to describe a new phase of capitalism (or post-capitalism) in which digital platforms, data monopolies, and technological infrastructure act as rent-extracting feudal lords, replacing traditional capitalists who profit primarily through production and wage labour.
This concept is explored by Yanis Varoufakis, Evgeny Morozov, and Nick Srnicek, who argue that we are witnessing a shift from industrial capitalism toward a system where ownership of digital infrastructure (for examples, Amazon Web Services, Google Cloud, Meta, Grab, Shopee) becomes the key mechanism of domination.
Attributes of Technofeudalism
Control via Platforms; Surveillance Capitalism; Digital Serfdom; Platform Rentierism; Monopolistic or as an Oligopoly……..
The impacts on Malaysia as the Techno-feudal Trap, click on the 2-minute podcast above.
