Technofeudalism: What Killed Capitalism (w/ Yanis Varoufakis) | The Chris Hedges Report

In this interview, Yanis Varoufakis discusses his book "Technofeudalism, What Killed Capitalism," arguing that capitalism has been replaced by a new system he terms "Technofeudalism," driven by cloud capital. He defines cloud capital as an automated network that modifies behavior and allows companies like Amazon and Tesla to bypass traditional markets, accumulate wealth through unpaid labor, and exert unprecedented control. Varoufakis explains how central banks' responses to the 2008 financial crisis fueled the rise of cloud capital, leading to a concentration of power and a decline in individual autonomy. He also touches on the left's historical shift away from prioritizing freedom, the erosion of the liberal individual, and potential strategies for reclaiming autonomy through collective action and leveraging cloud capital for progressive causes.