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They're a company that's designed like a union & operating in a similar fashion as Shawn Fain his UAW. By supporting start up companies like Oblivion Oddities Project Studios who are trying to push for Social Capitalism who want better societies. Companies that use their money to create shelters for the homeless, gardens, & more. Hell they want to create community studios that give free education.
Adam... I see Republican folks there counter-argue against people say usa 🇺🇸 is a democracy by saying it's a Republic. What do they mean? Is it worth a program, I think?
As Yanis said, it is in the link. https : Hypertext Transfer Protocol Secure. Yanis is the dream interviewee, ask a question and he is off for 10 minutes of brilliant exposition.
He breezed right past it, but it's downright lovely that Yanis said the MOST important thing : These monsters cannot be trained to behave. The reigns must be /Taken/ and the value being Extracted redistributed to the people of the world. Because all belongs to all.
It would probably take violence, and rational people would rather not spend the rest of their lives in prison, the government isn't going to do anything about it, so, we can be angry, but there's nothing anyone is going to do about it except enjoy the last few years we have left before everything is a subscription service.
Anyone else seriously troubled that historically this generally only happens via massive bloodshed and revolution...? I feel like we should be beyond this, but human greed combined with what id call a completely lack of empathy and distance too great to relate to those they are affecting leaves me thinking this doesnt change without history repeating in a horrible way.
@@aegon123, To be fair Yanis quit the job when they told him to hurt the economy of Greece. Cupcake! Some people are simply smarter and better read than you Cupcake.
I guess he tried to say "if you use something in the internet that is free, you are the product." You "pay" them with your time (or data idk) in that free app or site or whatever. Is not free for the "sake of being free".
The 1st lesson people should be taught in life is nothing is free. You will pay one way or another, you may not even be aware you have paid until further down the road. Hindsight is always 20/20..but some are so blind they never see how they pay, which is a sad state of affairs, they just accept life isn't fair. Perhaps being ignorant to the point is a blessing for them. 🤯🙊🙉🙈
@@paulblyde2175So, if I ask a stranger on the street what time it is, or they Help me with something else - I have to pay? What about people who ask for food - I have several Times bought food for strangers who asked me, and I didn't charge them for it...was I supposed to, for the sake of your mantra being true?
The irony (one of many) is that when Adam Smith (so very often called upon to validate capitalism as it currently functions) referred to the "Free Market" - he meant free from rents. Rents meaning monies extracted for no productive work or contribution.
Underrated comment, did you actually make it through the entire book wealth of nations? I made a solid attempt but reading ledgers written in ways we no longer speak was just too painful
@@jessehamilton4223 I read through the entire work over a weekend when I was taking government in high school. It's not as long as it seems, about as long as your average Harry Potter novel and I see people chew through one of those in a day or so.
@@BiscuitDelivery It's not the length in pages for a book that counts, but the amount of information and its difficulty to process. Harry Potters, like all other child fiction, are easy to digest. Those monumental books on economy or history, like Wealth of Nations, make you stop every page and think for a good while on what you have just read. If you are not doing it, and reading it just like you would read HP, you are actually just browsing and might as well not read it at all.
To all those "mad" at Yanis: Spare the messenger. Direct your anger towards the systems that oppress you, not towards the man helping you to see them. I am in NO way blaming people. I am exhorting them to use their power (LABOR and/or its withdrawal) so we can begin to stop the machine crushing us.
@@alexandertownsend5079 You poor, unimaginative soul. I'm not blaming the people. I'm exorting them to use the power they have (LABOR), so we can ALL live the solarpunk future of our dreams. The machine currently crushing us will stop only when we stop giving it our active labor, and our tacit consent.
@@alexandertownsend5079 all blaming does is shift the responsibility on someone else. That's why there's an inverse relationship between blame and accountability.
When will the left or even the plebs actually collectivize? We talk and performatively protest and write this stuff, but then what? We can't organize like an actual organization, and we dont have oligarch access to do so and maintain it.
Well the closest I can think of is the policy Marianne Williamson is advocating for which is an economic Bill of Rights. But the DNC would not give her a chance.
I don't know. I kinda like tapping on godawful ads for products I'll never buy just to mess with their algorithms. It's not like they actually make money off me, in fact i cost them in the end, but I suppose I'm a special case.
There is a fun little idea in the book Angrynomics which proposes that the state should charge big tech in order to be allowed to use the various data of their citizens and use that money to provide a certain baseline income to each citizen. Basically instead of them more-or-less-legally (and comprehensively) already using this very data, make it official but charge for it.
It's the job of congress to "fix" the digital world we all live in. It's unbelievable that they haven't come up with a digital bill of rights by now. WTF are we paying them for!?
Makes sense why all of these companies are pushing AI so hard, aside from the hype bubble, this stuff also serves to dilute the value of each individual contributor to the system by flooding it with facsimiles.
@@soulfulgardener Yeah, I'm surprised they didn't go more into that when they were talking about free labor. The amount of labor they steal from everyone via their shitty chatbots and image generation is order of magnitudes larger than the amount of free labor they get from someone writing a review.
Real problem is that automation should work for everyone, and not just for a small wealthy group of individiuals, whatever the nature of the automation, the idea that labor can be stolen is a nasty side effect it self of unchecked capitalism, because suits get to control the labour while reaping nearly all its benefits. Take spotify... they basically pay existence ransom to warner, to the point that as spotify artist you're basically making warner rich in the first place, while needing to pay a middleman to even be on the platform, and not even making a millionth of a cent per play yourself... responsibility was dodged by big corpo just fine without modern AI, but no "artist" seems to care about that.
I’m a comp sci major. I will say something that scares the shit out of me is just how far reaching Amazon and Google are. One of my classes is in cloud computing, another in network communication, honestly I think these are fundamental courses that people today need to be taking because it helps you actually absorb what the hell is going on around you and how.
Cloud computing and network communication. Thank you for sharing this information. I will look into this. Maybe I can share what I learn with others. This makes it easier for me to learn and retain it and others will be warned or made more sensitive in certain areas.
With a masters and 2 decades in infosec i'd argue the opposite. What humanity needs is more philosophers, engineers and liberal arts. Technology can and should empower humanity, not enslave it, but the incentives which drive tech is capitalism, and solutions for that lay outside the field.
@@shanek1195 I love this comment so much!!!!! This thinking actually sparked my change from double majoring in philosophy and international relations, taking what id learned and switching to computer science. I’m almost finished, I just ended up with a major in data science and a minor in computer science! Edit: i also switched because I ultimately decided to not pursue law school
These men are the true "Welfare Queens". In early 2000s I was in real estate. I saw first hand the extreme risk they were taking on. I thought it would end with these banks failing. The market would reset. I was sooooooo naive.
Yanis is a fantastic author too. His books were some of the first political books I read, I thought they’d be boring af but i finished em in a few days. captivating works
If you like his work you'd probably also like The New Human Rights Movement by Peter Joseph and Ubuntu Contributionism: Exposing the Global Banking Fraud by Michael Tellinger.
When all of us say, " but what can we do?" then THIS is the man to listen to, learn from and READ. He has real ideas to help us. 90% state money...state money is us, ours...not - insert the Cloudalists' name here.
I'm listening to this as a sociology student, like holy shit in ten years other students will look back on this and say it's obvious. But it's really such a revolutionary way of looking at where we are right now. I'm going to buy this book and be absolutely annoying to all my lecturers
its not even revolutionary. its just honest and critical analysis. we just live in a culture where prioritizing the feelings/egos of rich people is the main mode of behavior, so we are used to being extremely dishonest about everything in order to not upset their delicate little fee fees. want to test this? just go to any person in the UK (or most of europe tbh) and tell them that a monarch appointing all the officials who have the most say in what happens with laws means they dont live in anything close to a democracy. they'll flip their lids and of course, look down their noses at you, call you uncivilized and unsophisticated etc. they will do anything but address the factual statement you made about their monarchy government.
Omg I was arrogantly thinking to myself when I saw the title of this video, "yeah what are you going to compare it to feudalism? No one ever does that I wish I could convince people of that, no one ever makes that comparison." I am both deeply relieved and humbled and embarrassed over myself to see 2 minutes in that the topic is literally called technofeudalism! Omg the dopamine rush is amazing~ I felt like I've been going crazy telling people that capitalism ends in feudalism for like years. I am so excited to watch the rest and get a way better and more refined take on that rather than my layman's perspective.
lots of honest critical thinkers call our modern world neo feudalism. because if you are honest and critical when analyzing our situation, thats the only truthful conclusion you can come to. but our culture demands we arrange our lives around the feelings/egos of well off eurocentric people, and if you point out anything that even remotely removes personal responsibility from their fortunes, you get called jealous, crazy, a communist etc etc. ffs, we live in a system that only functions because of lots of people participating in it. the notion of self made anything is actually psychotic. because we dont live in a vacuum. and if all our laws, businesses and economic distribution systems are designed by wealthy eurocentrics for the purpose of improving the fortunes of wealthy eurocentrics, and most critically, done without equal influence of all parties involved or even measurable influence of all involved, it can ONLY be feudalism. we live in a system designed by and for people that are not us. a system solely based on prioritizing making rich people richer and ignoring the state of anyone or anything elses well being. then i remember that there are literal monarchies in europe who call themselves the best democracies on earth and i lose hope for our species because most well off people repeat that same blatant falsehood.
I think you made a logical error... Capitalism is an evolution of Feudalism!!! It doesn't end in it! In fact Capitalism is somewhat more Liberal than Feudalism... Because Humanity has been trying to get away from these "Slave systems" for a longggggg time... But NOW almost ANY person can become a boss, CEO or president. A "King" if you like... Democracy is also a far cry from Feudalism!!! You're not exactly subjected to the rule of a King by default... But NOW you can vote for the "King" (president) to rule you. The point I'm making.... Feudalism didn't exactly ended! It CHANGED!!! Capitalism gave a little more freedom to people than Feudalism but in the end... And this is why you think "it ends in Feudalism"... In the end it's STILL Feudalism. Just because you made some adjustments and gained some small things... Doesn't mean it's a "completely different thing"
@JohnHall I'm so laughing at this, because this is the ( not so hidden irony) of the reality of this discussion, and there is Adam talking about his girlfriends chickpea pasta.
He could extend this argument to those companies that still produce "tangible capital" too - notice how Apple never actually innovates its devices, it just relies on consumer behaviour to sell. Or even the Stanley Cup hype, there's nothing unique or innovative about it, the whole system just relies on manipulating consumer behaviour with algorithms and ads.
Apple does it worse they wait for smaller more innovative companies to introduce a technology in a good way and then copy it with a small twist and sell it to consumers as new and innovative
@@PoppoYoppo Just look at the vision pro. It exists SOLELY to create hype and fomo. Apple knows a $3500 VR headset isn't going to sell a lot but it's influencer bait. Tens of thousands of videos and posts of obnoxious idiots showing off how cool it is so Apple can manipulate people into spending money when the cheaper crappier $1000-$1500 dollar version comes out later this year or next year. That cheaper version will also conveniently need a brand new Iphone to power it since it almost certainly won't be stand alone like the Vision pro. That's product synergy right there. It's all an insidious behavior manipulation tactic. All that to sell people a VR headset that does LESS than most other cheaper VR headsets. Even what it can claim as unique and new is impractical and niche. Doesn't matter though because Apple did it and people have been trained to believe that matters.
This is why I’m a socialist. Capitalism, if left to its own devices, inevitably recreates the Feudal Lord-Serf dynamic. Economic inequality leads to political inequality. And political inequality is the root of authoritarianism. The more power is concentrated in fewer and fewer hands, the more authoritarian a political system is.
A friend of mine had taken a class by Varoufakis when he was just a professor that very few people knew. He says that he was admired by everyone at the university. The man has in depth knowledge of the subjects he teaches, is always kind and respectful to his students, and, most importantly, he has a unique ability to make the subject matter both understandable and exciting. Whether one shares his political views or not, this is something rare and worthy of respect, and he is worth listening to.
Even when neo-Nazis attacked Yanis and gave him a black eye, this modest man kept his word to appear at speaking engagement, swollen and bruised, he still SHOWED UP. BRAVE YANIS.
We literally have an entire genre dedicated to describing what a dystopian nightmare technology will become under capitalism and it's called "cyberpunk" ;)
I'm not convinced that this isn't just the inevitable end state of the capitalist system. If you optimize for profit over everything it eventually crushes everything else.
This is an era that could be deemed "Late Stage Capitalism" as the inequality is just horrendously outrageous, billionaires getting richer, millionaires getting richer and poor and working class people struggling more. Yes, this is troubling times. The problem is with a monster system like capitalism, so ingrained into our social system, it doesn't just 'go away' because it is collapsing. Collapse just keeps happening but the system doesn't change. Just like Yanis mentioned, the 2008 financial crash didn't end capitalism, the ruling elite just met up and decided to pump trillions back upwards to the banks and corporations and keep capitalism going. That'll happen again. Unless we collectively in the 99% do something different. If we focus our efforts on building a new, cooperative, viable system from the bottom-up, community by community, networked by ideas and vision and relentless in the goal of system change - if we do that, then we have a chance to change the world for the better. Still a lot of damage to work through, but at least we could get on the right track. For support on this check out Zeitgeist: Moving Forward, the talk by Peter Joseph, "A Viable Society", the journalism of Caitlin Johnstone, the vision and platform with Michael Tellinger and the One Small Town initiative, and supportive structures and organizations like Mutual Aid Networks, Srsly Wrong Boys podcast, Lee Camp Dangerous Ideas, Second Thought, Our Changing Climate and more.
Yeah he's pretty smart too...last I checked he left Greece for the UK/France (speaking as somebody who visits GR all the time, lol). As for his thesis "capitalism is dead" it makes for a great headline but actually all he seems to be talking about is imperfect competition, meaning you don't have "Adam Smith" type textbook "perfect competition" (which has hardly ever existed in the real world).
@@raylopez99 go watch interviews where he talks about his book specifically...its not ''imperfect competition''. Its about macro economics...these cloud fiefdoms are not sustainable long-term. And guess who will pay or who pays for their riches...us.
Under the hood, the Internet still runs on Linux and open source software, and would be completely impossible without it. So Big Tech is continuously profiting on (1) the free labour of enthusiasts, (2) the harvesting and selling of our personal data. Pipe dream for the show: an interview with Shoshana Zuboff.
@Eboreg it is a bit complicated to explain here. You will need to investigate it. It is a program to save money by putting it in the stock market with deferred taxes instead of investing locally. Makes stock prices go up and billionaires richer since they own the vast majority of stocks and bonds. The average person has to hope the stock market doesn't crash when it is their time to retire. It pretty much replaced pensions.
Excellent. Yanis is one of the few who is knowledgeable, analytical, independent and close to 100 percent correct! Good clarifications and non-interruptions. Well played Adam.
The right to accumulation being both unjust, but more importantly inefficient, is indeed one of the biggest mis-allocation problems. It happens because of greed, but it also happens because it is easier to let it happen than other things. We need to be aware of both of those sides of the problem to make better policy.
@@senaesul3128 What is your actual argument here? The same tired regurgitated rhetoric about how we somehow need capitalists to organize us? We have instantaneous global communication - your argument is invalid :)
This might be the best episode you have done yet. This has given me A LOT to think about and examine in my day to day life more so than 99.99% of other content I have watched anywhere. This is a really interesting argument and I plan to put a lot more thought into these ideas.
I kind of thought Adam should have clarified that early on. I picked up on "fief" in the context of the conversation, but it's not a common word these days and I figured that it probably sounded like "thief" or "thieves" to many viewers
The internet and its main backbone structure we all use today was conceived, designed, and built all on the taxpayers dime. Most if not all the coding formats used to create the programs that are used everywhere were created by universities with taxpayer grant money or by individuals who gave the code away as freeware. Taxpayers pay for it, cRapitalist take it and profit from it. Same as with many pharmaceuticals. Created in universities on the taxpayer dime, taken by big pharma to profit from.
Many, if not most, of the products of our economy, whether physical or intellectual or digital, were conceived, designed, and built by generations of people combining work and ideas, and then someone with the money and means to play the system decides to "own" it and profit from it. The internet and medicine are some of the most glaring examples of which.
And because most of the Web runs on AWS, the entire online space is renting from Amazon. It was an absolute _blunder_ on the part of the other tech giants for allowing Amazon to swallow up this market.
Amazon is being destroyed by resellers selling ikea furniture and shein goods, just like Etsy. This whole libertarian deregulation thing is working out great 🙄
i am greek and i still feel proud when i first bought yanis global minotaur book.. when yanis writes you can't find a single unnecessary word in his sentence!
As Greek, why do you think yanis seems to have a better time being politically influential outside of Greece than inside? Seems to be loosing put to the KKE, NA and even PASOK
@@truedarklander Anyone who gets his hands in politics in Greece is ruined. Greece is ruled by corrupted police, corrupted politicians and mafia. The reputation of our institutions is abysmal. Yanis tried to do the right thing by chipping in at a difficult time by joining "SYRIZA" to serve as financial minister but the party's now ex leader (ex prime minister Alexis Tsipras) made a disastrous decision in 2015 and Greece's left popularity is still on a downward spiral from back then. So his reputation is forever tainted even if he immediately resigned and left the party the people still have a foggy and bitter taste of that memory. Moreover, people are completely convinced on the incompetence of the Greek government. They keep voting for rightwing parties that use the same old tricks again and again: promise the voters "gifts" then take 40x the amount. At the moment in our parliement we literally have 4 parties that are exactly the same just with different aesthetics.
This is a real eye opener especially since the Atlantic Council thinktank recently had a public Zoom on getting US federal government storage systems "AI ready" for all sorts of algorithms no doubt.
What would a conversation between he ans Sapolsky be like? Sapolsky has thought deeply about what he calls the cruelty "... of our invention of poverty."
Marx, Lenin, and Stalin called what's happening now a long time ago. This is still capitalism, it's just the endgame that it was working towards the whole time.
@erayskirata6716 my grandad built a house near a beach by himself (construction worker). He was renting it when he wasn't living in it. I thought land lords built their houses and rented them bc of the money and effort it cost to build them for the longest time, till middle school when I realized what was happening. I'm from Greece and it's lately that we've become a neoliberal hellhole after a fascist dictatorship. Till then, most people built their own homes, by themselves. Like my grandad.
Yes I agree. With one added component; the exporting of manufacturing to the imperial subjects and leaving the management in the hands of imperialist capital. And then the subjects seize the means of production leaving the system in boundless contradictions. Do you see it too or am I simply wrong?
@@JkjoannakiThat sounds beautiful. Building your own home, your own blood and sweat, sometimes tears. Something truly yours, for you and your family, and family to come. Another stolen future.
You also have to keep in mind that without roads, electrical grid, Internet and Internet networks, which were all funded by the government. Amazon would not have made 1 cent.
Feudal land owners was the whole point of “income tax”, was to tax the land owners on the income they were accumulating through renting use on their land, to prevent them becoming more powerful. It wasn’t originally meant for labor income. Someone along the way didn’t want the people to become self sufficient on their own land and have a sense of power, by not requiring dependency on factories and banks. If the people were required to pay an income tax, they would have to work for someone else as in a factory or company to pay the tax. To make everyone work even more, leave no time for self sufficiency, convinced to buy all the products, convinced that they’re needed. So now they have labor and customers.
Other than using the word they way to much you come closer than most here. The last "they" you referred to was the state. The main obstacle in the way of free market capitalism.
There are certain things we all must buy like laundry detergent, and if I see a laundry detergent ad a sufficient number of times that it annoys me, I will never buy that brand again. I wonder if the algorithm takes that into account, and shows me ads for every other brand of laundry detergent such that I fall into their trap and buy the one they didn't advertise, and it was reverse-advertising the whole time. Anyway I'm so poor that it's like a superpower. Ads don't work if you don't have any money (points at head)
This is Exactly how I feel about targeted advertising. “The algorithm will serve you more relevant ads for things you actually want, not unrelated BS” is the positive spin they give for data collection. However it doesnt matter how cool or useful or necessary to my life the ads are…. they are irrelevant because I can barely afford to buy stuff secondhand, let alone new, let alone new and online with shipping fees. The ads will never work because I simply cannot buy anything.
The problem with this thinking is that the algorithm isn't actually trying to sale you anything, they are being paid to serve an ad, not sale a product. It doesn't matter if you despise literally every product you see an add for, Google already got paid. Plus they know that eventually you will look for a product online either to buy or to find reviews and when you do they sale the top slots on their search engine to the highest bidder so they still can claim to drive sales. Lastly you are a very small part of all the people using the internet so the only need just an equally small amount of money from you and add it to that amount they get from everyone else's data.
DIY laundry detergent involves washing soda, fels naphtha soap, & borax. I haven't seen an ad for any of those in decades. Lots of instructions on the internet.
Adam, your ability to paraphrase and encapsulate the main thrust of an argument is impressive. I'm so glad there are competitors to right-adjacent monopolists like Jordan Peterson.
I'm a big fan of Janis. I discovered him after watching several great financial documentaries. I highly recommend watching, America Freedom to Fascism, The Corporation, Confessions of a Economic Hitman, The Secret of Oz, and Zeitgist Addendum. I hope many more people watch this video, and take him very seriously. Thank you.
yeah, he's great and all when he's abroad. he has all his intellectual friends and elite scholars in all the universities. exactly like Elizabeth Warren. Meanwhile, back in Greece he has created an egomaniac party, just to brand himself internationally, and effectively breaking up the radical left into more tiny pieces, instead of uniting and defeating the ultra-right wing. In two elections in a row he has done enough damage so that now the New Democracy right-wing government is able to enjoy a supermajority. Unfortunately he has zero real connection with the Left on the ground or unions. He's basically a celebrity going around on UA-cam channels while having real contempt for Greek or poor people. But you would never know that because you don't speak Greek and in English he has a different persona when he is with his wealthy peers. Just google 'varoufakis photoshoot paris match'. He later apologized about it because I guess it hurts his "brand"
Ugh, try explaining this to my wife who constantly defends our absent landlord... Defends the fact he increases rent annually the legal maximum. Defends the fact he never bugs us (beyond making sure rent is due like 3 days before the earliest payment date). Defends that he never stops by unexpectedly (or expectedly, not once has he made or hired anyone to repair shit.)
Yes, and at this part he said instead of having to call Uber why can't I just get on some public app and say I want to get from here to there and have companies bid on it. I never would have thought of that.
@@SolidAir54321 because that's insane gibberish that doesn't mean anything is why. Why would there be a platform in an app where companies "bid"(34:30) to take you when they already have their own apps? And what are they bidding on? What for? A contract where they will earn billions of dollars? These companies won't do that because it doesn't make sense for anybody involved.
@@SolidAir54321 because that doesn't mean anything is why. Why would there be a platform in an app where companies "bid"(34:30) to take you when they already have their own apps? And what are they bidding on? What for? A contract where they will earn billions of dollars? These companies won't do that because it doesn't make sense for anybody involved.
The way you guys fought against AI was impressive. I like to watch Yanis as well. What a coincidence, artists are starting to get what transitions are happening at the moment.
I'm not quite sure I see a huge distinction between this and say, owning a railroad in the 1800s, or being a slumlord. Landlords have always extracted rent based on the power afforded to them. And capitalism has always had companies that did not directly produce anything but instead functioned as a middle ground between other companies in the extraction > processing > consumption chain. I don't think he's wrong in what he's describing but it seems odd to try and brand it as a novel thing, I think it's pretty consistent with things we can see going back hundreds of years.
My understanding is that he is arguing that we no longer live(?) under capitalism (as commonly understood and at least least not completely) and that it’s actually reverted back to feudalism. One key factor being the lack of a labor market. The novel part is that the feudalism has mutated to be primarily digital or in the cloud via(?) state funding/investment, privatization, what have you. Something like that
It hasn't mutated at all, this is what it is. This is what it always was. This is capitalism working exactly as intended to funnel all the wealth to the top.
I disagree with Yanis's analysis that what we're dealing with is fundamentally different than capitalism previously. Even Max Weber observed, nearly a century ago, that the capitalists who end up with all of the power and control are distributers not those doing the production. Additionally, the control over what we see and targeting us with differing products isn't new. That cultivation of experience is literally built into infrastructure, where certain parts of cities are designed to be inaccessible by buses to keep the poors out. It's also been a feature to divide populations and pit them against each other. And certain products will only be marketed to certain populations, even without digital mediums. Nothing he's talking about is *new* about capitalism. We might say there's an intensification and refinement of these processes going on. Having read the literature that I have I'm convinced that capitalism, from the very beginning, was a refinement of feudalism even as it displaced monarchs. Additionally, markets are carved up into territories (and are privatized), so as to maximize profitability for firms unable to eliminate one another and most of these people DO inherit the wealth and power that leads them to their status. I overall like Yanis, but that analysis is lacking. :/
It's labor that builds and manufactures goods. He paints a rosy picture of what Capitalism use to be, what it "can" be, but the system has always been about exploiting those who are not lucky enough to be born into money (or ruthless enough to exploit thousands of people for their labor). What we have now is because governments and society have doubled and tripled down on a system that CANNOT persist due to it's inherent contradictions, one being that you cannot have perpetual growth and profit on a planet with finite resources (the exploitation of which is making said planet uninhabitable for life as we know it).
Life isn't fair, never was and never will be. How and where you are born, is not up to anyone to decide. Deal with this fact of life and maybe you start making better decisions.
Adam, you need to follow this up with prof michael hudson. His book and forgive them their debts is a book that will change everything for you. A focus on that book would be a must see.
It is called "surveillance capitalism", where behavior is a free surplus for enterprises to record and which its manipulations has the capacity to influence/control customers.
Yeah. It's just same old capitalism but with surveillance aspects to it. People didn't say capitalism was over when the public relations industry or the oil industries rose up.
I think you also missed the opportunity to talk about the ‘’shareholders market’’ and the fact that it does not matter anymore if people are satisfied with products/services etc and only matters the opinion of shareholders, stock market and hedge funds. Also the housing market!
Even shareholders opinions don't matter if they challenge the status quo. Exxon is suing it's shareholders because shareholders want to vote to put preventing climate change over short term profits.
@@3nertia absolutely, in the long term and in the presence of competition (you know, the good part of capitalism economists like to dwell on because it's a good fairy tale where costs go down and quality goes up), profit trends towards zero. capitalists are interested in monopoly and rents, not competition (also subsidy, which is leveraged via corruption of political power).
In England, they own our water supplies too. 75 % of British water authorities owned by foreign companies and individuals that previously had nothing to do with the environmental management. Our water quality and river levels are at an all-time low, and raw sewage is regularly pumped into our river systems. Our chalk streams are choked by silt/mud and pollution. But all you hear on social media is carbon zero!
A related tangent….in the US we have laws that regulate the treatment of human waste, but their are no regulations regarding the treatment of waste from live stock. Hundred of thousands of tons of live stock feces goes untreated and ends up in our rivers, lakes and ground water.
I’ve never listened to your show, but thank you for platforming Yanis Varoufakis. He fucking rules, he’s one of the most brilliant authentic public intellectuals/academics/economists/commentators on current events/Marxist thinkers/etc. out there, & I couldn’t be more thrilled at the extent to which he has been mainstreamed with a lot of guest spots all over UA-cam lately. These are the kinds of voices that IMO ought to be right at the center, part & parcel, of a truly civilized, truly productive public discourse, but who until very recently have largely been treated as this unthinkable radical fringe who had to be set to the side & ignored because they were too challenging to capitalist orthodoxy, too willing to question the powers that be, & didn’t conform to their stereotypes about the left (that all socialists/communists/Marxists were just crazy Stalinist Holodomor apologists who want to bring the gulag to America & eliminate civil rights or some nonsense like that, when left Marxists, anti-authoritarian pro-democracy leftists more broadly, are in fact much more anti-authoritarian & in favor of a much more genuinely democratic degree of participation by the people themselves than American style classical liberals (American “liberals” & “conservatives”), fascists, OR the authoritarian side of the left (the actual Marxist-Leninists & Leninists & the like, states like China’s)… I was happy to see it when Bernie Sanders suddenly went from being someone I knew or when I was 15 because he was the only self-described “socialist” senator (though basically a social democrat) to becoming the most popular politician in America & having a real shot at the presidency (if the DNC hadn’t rigged it to stop him)… But now to have a figure who I genuinely think is a real model for the left- a truly deep thinker with really important insights into economics that we all ought to be learning & taking to heart… It’s uplifting, to say the least- & god knows I can use some uplifting indicators with things as they are right now. I also recommend anyone who hasn’t, listen to a Varoufakis’ interview/conversation with David Wengrow… Though all his talks are worth listening to tbh. And look for his upcoming (or maybe newly released by now?) book Technofeudalism whenever it is out! His points on that topic have also been spot on, so I’m sure the book will be great. I’m psyched to see him writing about some more general theory/historical analysis instead of more specifically writing about the Greek debt crisis & his time as Finance Minister.
"Influence capital" is now the focus for monetization within the current iteration of capitalism. The worst aspect of this is because there is a *higher* value attributed to hidden influence vs. overt.
Interesting how "fiefdom" only sounds like a mispronunciation of "thiefdom". It's a bit like while playing Minecraft recently, it occurred to me that maybe "mine" is called that because when asked what the thing is, the first guy who owned a mine just said that it's theirs - "What is that? Mine, that's what that is."
Its even worse than he described. Amazon Web Services provides the infrastructure for most of the internet. Netflix runs on AWS. Uber runs on AWS, Grubhub too. Even a lot of corporate and government intranets are farmed out to AWS because its scalable and failure proof. So notably does Amazon control the marketplace, they control the road.
The state paid for allowed and patron aws. Inherently not capitalism bc the state is worried about controlling the ppl. Who is at fault capitalism or the state?
“Capitalist markets” means declaring the monetization of everything (and famously understanding the value of nothing). And the phenomenon of “profits” represents an infliction of violence somewhere in the process, whether in the acquisition of resources, in the process of production, or during the process of exchange, including when accounting for externalities and sustainability.
in my opinion for capitalism to function long term. We need strong unions, those unions need to be easily held to account by their members, and a culture that doesn't promote the idea that employees are a cost to the company, enriching your employees lives should be the goal of the company.
Hooolyyy Sh*****TT ok man. You're now amazing in my book. You were that funny guy with fun facts and now you're talking with one of the most important voices in today's world.. Greetings from Argentina. We shouldn't be looking for heroes, we should be looking for good ideas.- Chomsky
Those top hats wouldn't have been found on the workers who actually produced the products. Without labor nothing would be accomplished in the United States to profit from. In fact, there would be zero GDP.
I'm not an anti capitalist... but Yanis is the best at making me deeply question that position. We no longer have a market when there are 5 sellers who control 90% of it. The magic of capitalism is its ability to create upward opportunity. This isn't possible when a market is captured.
The magic you speak of, is a myth perpetuated by the fiefdoms. They dangle a potential life of ease and luxury, knowing that only 18% of people born into poverty will ever lift themselves up into the middle class. The percentages of middle class people who reach upper income is even lower. It’s an American pipe dream.
Late stage capitalism: When consolidation ruins the open market that is supposed to self regulate industry. When capital owns politics and media that is supposed to regulate industry. Supply side economics when the oligopoly can decide they no longer care what the market wants. Industries and infrastructure that should not be for profit, are owned by corporations instead of state or collective owned. (Propaganda convinces people that Communism and Socialism are enemies of Capitalism instead of supplemental) There is nothing wrong with regulated capitalism supplemented by state infrastructure and social cooperatives. Particularly if any citizen has an opportunity to become capital owners themselves through entrepreneurialism and investment. But our apathy in our Democracy has allowed the checks and balances for Capitalism to be corrupted.
That never happened, money doesn't exist is just a symbol with value enforced by law, and what buys is resources of colonized countries, and people. You CAN'T afford to pay for my time if there's real "upward mobility" it would obviously be too expenssive, it's the capitalist myth of a world where everyone can be a CEO (ceo of what, where are the workers? Remember everyone is a corporate owner now...) it literally doesn't work if the group with "upward mobility" goes above 1%. And in the same way the proletariat can't survive without cheap production from literally, slaves, because with how corps inflate prices the working class ironically won't be able to pay for their own labor (a full time farmer not being able to buy food) so someone without literal human rights on India or Africa has to produce cheap enough that the proletariat can afford and the capitalist gets his cut.
I don't know about anyone else but Amazon's suggestions are absolutely ridiculous for me. I can't think of a single time I've bought anything without having to search hard for it, let alone a time I bought a suggested item.
I wonder if that’s intentional, in that you’ve been flagged as someone not satisfied by advertising, so they intentionally make you work for it, to create a false satisfaction of overcoming adversity. And, in the case where what you find is merely just “good enough” and not exactly what you were hoping for, you’d create your own sunk cost fallacy and buy it anyway. Either way, Amazon still gets its cut, all while deceiving you into thinking that you stuck it to The Man. Just my thoughts though: I obviously have no way to prove that either way.
@@eevengerz4318 That would require collusion from multiple search providers. I'm pretty good at searching. The only time suggestions even meet my requirements is when I have just bought enough of something and they try to sell me more. Could they be messing with me? Absolutely. But why? I'm just not that important, nor that paranoid.
The CC keeps saying "thief" and "cloud thief." Because of his Greek accent. But he is saying "fief" as in fiefdom. "Dictionary noun an estate of land, especially one held on condition of feudal service."
"I do all of this work and at the end of the day UA-cam gives me a small percentage of the revenue I've actually generated. This is a bizarre way for me to do labor." I mean, it may seem bizarre to someone who has their own business, but this is basically how labor has worked for centuries. UA-cam just doesn't have a formal contract stating that you're an employee.
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They're a company that's designed like a union & operating in a similar fashion as Shawn Fain his UAW.
By supporting start up companies like Oblivion Oddities Project Studios who are trying to push for Social Capitalism who want better societies. Companies that use their money to create shelters for the homeless, gardens, & more. Hell they want to create community studios that give free education.
Social Capitalism is the solution! It's the only form of Capitalism that's both Moral & Ethical!
Adam... I see Republican folks there counter-argue against people say usa 🇺🇸 is a democracy by saying it's a Republic. What do they mean? Is it worth a program, I think?
As Yanis said, it is in the link. https : Hypertext Transfer Protocol Secure. Yanis is the dream interviewee, ask a question and he is off for 10 minutes of brilliant exposition.
Uber calla cab better service
He breezed right past it, but it's downright lovely that Yanis said the MOST important thing : These monsters cannot be trained to behave. The reigns must be /Taken/ and the value being Extracted redistributed to the people of the world. Because all belongs to all.
Exactly. The rich never gave away power willingly. They surrendered small bits while kicking and screaming.
yes, power never gives up without a fight. nature of the beast (corruption).
It would probably take violence, and rational people would rather not spend the rest of their lives in prison, the government isn't going to do anything about it, so, we can be angry, but there's nothing anyone is going to do about it except enjoy the last few years we have left before everything is a subscription service.
Anyone else seriously troubled that historically this generally only happens via massive bloodshed and revolution...? I feel like we should be beyond this, but human greed combined with what id call a completely lack of empathy and distance too great to relate to those they are affecting leaves me thinking this doesnt change without history repeating in a horrible way.
Hell yeah dude
Gives “serf”-ing the web a whole new meaning
Hell yeah
🙌 😉 😂 😭
Yeah, us ordinary scmucks should be getting paid to handle the stresses of social media.
nice pun
Underrated comment
Wow, you've got Yanis Varoufakis on the show. I keep getting pleasantly surprised by the people you bring on, this is bound to be a good one!
Yanis Varoufakis openly supports the genocide of the Ukrainian people.
To be fair Greece isn't exactly known for it's sound economic policy
@@aegon123, To be fair Yanis quit the job when they told him to hurt the economy of Greece.
Cupcake!
Some people are simply smarter and better read than you Cupcake.
I guess a complete economic collapse is hard to ignore? lol @@aegon123
Aegon i think you need more Varoufakis in your life 😅😅😅
A quote I found somewhere that helped me understand the system "If you use the internet and it costs you nothing.... YOU are the product".
Exactly. And this video is free 🤫
When is the internet free though? I gotta pay for it to have it in my house and on my phone.
I guess he tried to say "if you use something in the internet that is free, you are the product."
You "pay" them with your time (or data idk) in that free app or site or whatever. Is not free for the "sake of being free".
The 1st lesson people should be taught in life is nothing is free. You will pay one way or another, you may not even be aware you have paid until further down the road. Hindsight is always 20/20..but some are so blind they never see how they pay, which is a sad state of affairs, they just accept life isn't fair. Perhaps being ignorant to the point is a blessing for them. 🤯🙊🙉🙈
@@paulblyde2175So, if I ask a stranger on the street what time it is, or they Help me with something else - I have to pay?
What about people who ask for food - I have several Times bought food for strangers who asked me, and I didn't charge them for it...was I supposed to, for the sake of your mantra being true?
The irony (one of many) is that when Adam Smith (so very often called upon to validate capitalism as it currently functions) referred to the "Free Market" - he meant free from rents. Rents meaning monies extracted for no productive work or contribution.
Underrated comment, did you actually make it through the entire book wealth of nations? I made a solid attempt but reading ledgers written in ways we no longer speak was just too painful
@@jessehamilton4223 I read through the entire work over a weekend when I was taking government in high school. It's not as long as it seems, about as long as your average Harry Potter novel and I see people chew through one of those in a day or so.
@@BiscuitDelivery It's not the length in pages for a book that counts, but the amount of information and its difficulty to process. Harry Potters, like all other child fiction, are easy to digest. Those monumental books on economy or history, like Wealth of Nations, make you stop every page and think for a good while on what you have just read. If you are not doing it, and reading it just like you would read HP, you are actually just browsing and might as well not read it at all.
@guteksan totally agree that a book's length does not determine its digestibility. Can you imagine if it did?
@@guteksanThere's nothing "monumental" about that crummy little book.
To all those "mad" at Yanis: Spare the messenger.
Direct your anger towards the systems that oppress you, not towards the man helping you to see them.
I am in NO way blaming people. I am exhorting them to use their power (LABOR and/or its withdrawal) so we can begin to stop the machine crushing us.
@@alexandertownsend5079 You poor, unimaginative soul. I'm not blaming the people. I'm exorting them to use the power they have (LABOR), so we can ALL live the solarpunk future of our dreams.
The machine currently crushing us will stop only when we stop giving it our active labor, and our tacit consent.
It's also safer. If I go after the board members of hedge funds the CIA will stick me in a black site @@alexandertownsend5079
@@alexandertownsend5079 You may want a /s. Remember there are people who really are really dumb and you don't want to be confused for them.
@@alexandertownsend5079 all blaming does is shift the responsibility on someone else. That's why there's an inverse relationship between blame and accountability.
When will the left or even the plebs actually collectivize? We talk and performatively protest and write this stuff, but then what? We can't organize like an actual organization, and we dont have oligarch access to do so and maintain it.
We must demand a digital Bill of Rights. I want complete control over my data and I want a cut of the money generated by my data. Among other rights.
Well the closest I can think of is the policy Marianne Williamson is advocating for which is an economic Bill of Rights. But the DNC would not give her a chance.
Secure the votes to pass it
I don't know. I kinda like tapping on godawful ads for products I'll never buy just to mess with their algorithms. It's not like they actually make money off me, in fact i cost them in the end, but I suppose I'm a special case.
There is a fun little idea in the book Angrynomics which proposes that the state should charge big tech in order to be allowed to use the various data of their citizens and use that money to provide a certain baseline income to each citizen. Basically instead of them more-or-less-legally (and comprehensively) already using this very data, make it official but charge for it.
It's the job of congress to "fix" the digital world we all live in. It's unbelievable that they haven't come up with a digital bill of rights by now. WTF are we paying them for!?
Makes sense why all of these companies are pushing AI so hard, aside from the hype bubble, this stuff also serves to dilute the value of each individual contributor to the system by flooding it with facsimiles.
And stealing the labor of artists, writers and content creators
These AI systems currently make it basically impossible to hold anyone (any company) responsible when they inevitably cause harm (as they already are)
This is what happens in Rome with the salves, if they do this in US, it will guarantee a fall. If, but will fall.
@@soulfulgardener Yeah, I'm surprised they didn't go more into that when they were talking about free labor. The amount of labor they steal from everyone via their shitty chatbots and image generation is order of magnitudes larger than the amount of free labor they get from someone writing a review.
Real problem is that automation should work for everyone, and not just for a small wealthy group of individiuals, whatever the nature of the automation,
the idea that labor can be stolen is a nasty side effect it self of unchecked capitalism, because suits get to control the labour while reaping nearly all its benefits.
Take spotify... they basically pay existence ransom to warner, to the point that as spotify artist you're basically making warner rich in the first place, while needing to pay a middleman to even be on the platform, and not even making a millionth of a cent per play yourself... responsibility was dodged by big corpo just fine without modern AI, but no "artist" seems to care about that.
I’m a comp sci major. I will say something that scares the shit out of me is just how far reaching Amazon and Google are. One of my classes is in cloud computing, another in network communication, honestly I think these are fundamental courses that people today need to be taking because it helps you actually absorb what the hell is going on around you and how.
....go on....
Cloud computing and network communication. Thank you for sharing this information. I will look into this. Maybe I can share what I learn with others. This makes it easier for me to learn and retain it and others will be warned or made more sensitive in certain areas.
With a masters and 2 decades in infosec i'd argue the opposite. What humanity needs is more philosophers, engineers and liberal arts. Technology can and should empower humanity, not enslave it, but the incentives which drive tech is capitalism, and solutions for that lay outside the field.
@@shanek1195 I love this comment so much!!!!! This thinking actually sparked my change from double majoring in philosophy and international relations, taking what id learned and switching to computer science. I’m almost finished, I just ended up with a major in data science and a minor in computer science!
Edit: i also switched because I ultimately decided to not pursue law school
Adam complimented Yanis really well in this episode, bringing out new aspects of this issue than i usually hear in yanis interviews. Well done
These men are the true "Welfare Queens". In early 2000s I was in real estate. I saw first hand the extreme risk they were taking on. I thought it would end with these banks failing. The market would reset. I was sooooooo naive.
Banks never fail. They are always saved by taxpayer money and on top of that they count us saving them as furthering our debt.
Corporations are the true welfare queens.
A number of banks has failed recently. It is the large too big to fail banks that get bailed out with taxpayer money.@@07Flash11MRC
Our taxes went to enrich them. The richest need to pay BIG TAXES
Welfare Queens of Silicone Valley
Yanis is a fantastic author too. His books were some of the first political books I read, I thought they’d be boring af but i finished em in a few days. captivating works
Yeah, that's what happened with me and 'Another Now', brilliant ideas.
100%, he is brilliant.
If you like his work you'd probably also like The New Human Rights Movement by Peter Joseph and Ubuntu Contributionism: Exposing the Global Banking Fraud by Michael Tellinger.
When all of us say, " but what can we do?" then THIS is the man to listen to, learn from and READ. He has real ideas to help us. 90% state money...state money is us, ours...not - insert the Cloudalists' name here.
I'm listening to this as a sociology student, like holy shit in ten years other students will look back on this and say it's obvious. But it's really such a revolutionary way of looking at where we are right now. I'm going to buy this book and be absolutely annoying to all my lecturers
Also buy the book 1984 by George Orwell
Thank you for your service. You will also enjoy David Graber then!!
its not even revolutionary. its just honest and critical analysis. we just live in a culture where prioritizing the feelings/egos of rich people is the main mode of behavior, so we are used to being extremely dishonest about everything in order to not upset their delicate little fee fees. want to test this? just go to any person in the UK (or most of europe tbh) and tell them that a monarch appointing all the officials who have the most say in what happens with laws means they dont live in anything close to a democracy. they'll flip their lids and of course, look down their noses at you, call you uncivilized and unsophisticated etc. they will do anything but address the factual statement you made about their monarchy government.
@@saturationstation1446 you do know for the past 40ish years most of Europe have been republics right
The moment he started that sponsor ad, I feel like my whole world is just a black mirror episode.
Lol IT IS: reality imitating art
Omg I was arrogantly thinking to myself when I saw the title of this video, "yeah what are you going to compare it to feudalism? No one ever does that I wish I could convince people of that, no one ever makes that comparison." I am both deeply relieved and humbled and embarrassed over myself to see 2 minutes in that the topic is literally called technofeudalism! Omg the dopamine rush is amazing~ I felt like I've been going crazy telling people that capitalism ends in feudalism for like years. I am so excited to watch the rest and get a way better and more refined take on that rather than my layman's perspective.
lots of honest critical thinkers call our modern world neo feudalism. because if you are honest and critical when analyzing our situation, thats the only truthful conclusion you can come to. but our culture demands we arrange our lives around the feelings/egos of well off eurocentric people, and if you point out anything that even remotely removes personal responsibility from their fortunes, you get called jealous, crazy, a communist etc etc. ffs, we live in a system that only functions because of lots of people participating in it. the notion of self made anything is actually psychotic. because we dont live in a vacuum. and if all our laws, businesses and economic distribution systems are designed by wealthy eurocentrics for the purpose of improving the fortunes of wealthy eurocentrics, and most critically, done without equal influence of all parties involved or even measurable influence of all involved, it can ONLY be feudalism. we live in a system designed by and for people that are not us. a system solely based on prioritizing making rich people richer and ignoring the state of anyone or anything elses well being. then i remember that there are literal monarchies in europe who call themselves the best democracies on earth and i lose hope for our species because most well off people repeat that same blatant falsehood.
I think you made a logical error... Capitalism is an evolution of Feudalism!!! It doesn't end in it! In fact Capitalism is somewhat more Liberal than Feudalism... Because Humanity has been trying to get away from these "Slave systems" for a longggggg time... But NOW almost ANY person can become a boss, CEO or president. A "King" if you like... Democracy is also a far cry from Feudalism!!! You're not exactly subjected to the rule of a King by default... But NOW you can vote for the "King" (president) to rule you.
The point I'm making.... Feudalism didn't exactly ended! It CHANGED!!! Capitalism gave a little more freedom to people than Feudalism but in the end... And this is why you think "it ends in Feudalism"... In the end it's STILL Feudalism. Just because you made some adjustments and gained some small things... Doesn't mean it's a "completely different thing"
TBH, seeing the "Thrive" ad in the middle of a conversation hosted on UA-cam about digital fiefdoms is a reminder of the entire topic.
@JohnHall
I'm so laughing at this, because this is the ( not so hidden irony) of the reality of this discussion, and there is Adam talking about his girlfriends chickpea pasta.
@@kzinfullol
😂 I am glad there are others who noticed the irony as well
He could extend this argument to those companies that still produce "tangible capital" too - notice how Apple never actually innovates its devices, it just relies on consumer behaviour to sell. Or even the Stanley Cup hype, there's nothing unique or innovative about it, the whole system just relies on manipulating consumer behaviour with algorithms and ads.
Apple does it worse they wait for smaller more innovative companies to introduce a technology in a good way and then copy it with a small twist and sell it to consumers as new and innovative
Don't forget the money laundering IP and tax evasion tricks that they hold Ireland hostage under
Welcome to capitalism - Profits over People!
@@PoppoYoppo Just look at the vision pro. It exists SOLELY to create hype and fomo. Apple knows a $3500 VR headset isn't going to sell a lot but it's influencer bait. Tens of thousands of videos and posts of obnoxious idiots showing off how cool it is so Apple can manipulate people into spending money when the cheaper crappier $1000-$1500 dollar version comes out later this year or next year. That cheaper version will also conveniently need a brand new Iphone to power it since it almost certainly won't be stand alone like the Vision pro. That's product synergy right there. It's all an insidious behavior manipulation tactic.
All that to sell people a VR headset that does LESS than most other cheaper VR headsets. Even what it can claim as unique and new is impractical and niche. Doesn't matter though because Apple did it and people have been trained to believe that matters.
Says something about our.. susiety though that we fall to these ads and manipulations.
Always a treat to listen to Yanis Varoufakis. He's always got his eye on issues bigger than the headlines.
This is why I’m a socialist. Capitalism, if left to its own devices, inevitably recreates the Feudal Lord-Serf dynamic. Economic inequality leads to political inequality. And political inequality is the root of authoritarianism. The more power is concentrated in fewer and fewer hands, the more authoritarian a political system is.
A friend of mine had taken a class by Varoufakis when he was just a professor that very few people knew. He says that he was admired by everyone at the university. The man has in depth knowledge of the subjects he teaches, is always kind and respectful to his students, and, most importantly, he has a unique ability to make the subject matter both understandable and exciting. Whether one shares his political views or not, this is something rare and worthy of respect, and he is worth listening to.
Aww that rocks
Even when neo-Nazis attacked Yanis and gave him a black eye, this modest man kept his word to appear at speaking engagement, swollen and bruised, he still SHOWED UP. BRAVE YANIS.
I agree. It's always interesting, not using loads of jargon and you do not have to agree with all his opinions
@@joeldwest They were not "Neo Nazis" He said so himself.
As if capitalism wasn't bad enough, now we have to deal with this?
If you thought Capitalism was bad wait till you get a load of Capitalism 2
@@ThisIsANameBruh The market is so efficient.
We literally have an entire genre dedicated to describing what a dystopian nightmare technology will become under capitalism and it's called "cyberpunk" ;)
The Industrial Revolution and it’s consequences
@@ThisIsANameBruh well played. I almost spit out my drink reading this.
I'm not convinced that this isn't just the inevitable end state of the capitalist system. If you optimize for profit over everything it eventually crushes everything else.
Yup. This is all inherent to the capitalist mode of production. Marx predicted much of this stuff.
Capitalism has never been so alive my friend
Someone knows the music is about to stop and everyone else has forgotten the whole game is about keeping a place for their --- when it goes silent.
This is an era that could be deemed "Late Stage Capitalism" as the inequality is just horrendously outrageous, billionaires getting richer, millionaires getting richer and poor and working class people struggling more. Yes, this is troubling times.
The problem is with a monster system like capitalism, so ingrained into our social system, it doesn't just 'go away' because it is collapsing. Collapse just keeps happening but the system doesn't change. Just like Yanis mentioned, the 2008 financial crash didn't end capitalism, the ruling elite just met up and decided to pump trillions back upwards to the banks and corporations and keep capitalism going. That'll happen again.
Unless we collectively in the 99% do something different. If we focus our efforts on building a new, cooperative, viable system from the bottom-up, community by community, networked by ideas and vision and relentless in the goal of system change - if we do that, then we have a chance to change the world for the better. Still a lot of damage to work through, but at least we could get on the right track.
For support on this check out Zeitgeist: Moving Forward, the talk by Peter Joseph, "A Viable Society", the journalism of Caitlin Johnstone, the vision and platform with Michael Tellinger and the One Small Town initiative, and supportive structures and organizations like Mutual Aid Networks, Srsly Wrong Boys podcast, Lee Camp Dangerous Ideas, Second Thought, Our Changing Climate and more.
If you optimize for profit, humans lives are the biggest cost.
I love this guy he has a patient grandfatherly kind of wisdom. Papou Yani.
They convinced regular people they are also a billionaire just in the making. Soo they don't rise up and not ruin the future chances .
“Engagement is Labor” is the lightbulb idea I needed today
Yanis is an amazing thinker, thanks a lot Adam!
Yeah he's pretty smart too...last I checked he left Greece for the UK/France (speaking as somebody who visits GR all the time, lol). As for his thesis "capitalism is dead" it makes for a great headline but actually all he seems to be talking about is imperfect competition, meaning you don't have "Adam Smith" type textbook "perfect competition" (which has hardly ever existed in the real world).
@@raylopez99 go watch interviews where he talks about his book specifically...its not ''imperfect competition''. Its about macro economics...these cloud fiefdoms are not sustainable long-term. And guess who will pay or who pays for their riches...us.
Under the hood, the Internet still runs on Linux and open source software, and would be completely impossible without it. So Big Tech is continuously profiting on (1) the free labour of enthusiasts, (2) the harvesting and selling of our personal data. Pipe dream for the show: an interview with Shoshana Zuboff.
Don't forget your 401k.
@@tinoyb9294 I'm not familiar with 401k as I am not American. What about it?
@Eboreg it is a bit complicated to explain here. You will need to investigate it. It is a program to save money by putting it in the stock market with deferred taxes instead of investing locally. Makes stock prices go up and billionaires richer since they own the vast majority of stocks and bonds. The average person has to hope the stock market doesn't crash when it is their time to retire. It pretty much replaced pensions.
@@tinoyb9294 Thanks. I guess we have something similar here in Sweden. You won't get very far on just the state financed pensions.
@@klaatoris it also replaced pensions from private companies as well.
Excellent. Yanis is one of the few who is knowledgeable, analytical, independent and close to 100 percent correct! Good clarifications and non-interruptions. Well played Adam.
The right to accumulation being both unjust, but more importantly inefficient, is indeed one of the biggest mis-allocation problems. It happens because of greed, but it also happens because it is easier to let it happen than other things. We need to be aware of both of those sides of the problem to make better policy.
Last few interviews have been incredibly thought provoking. Its very pleasurable to listen to. Thank you!
Capitalists don't make anything. Workers do. Capitalists steal surplus value.
Who organizes the workers?
@@senaesul3128managers. Which are also workers.
@@Gobbldeegoo1 What do manager's make that's categorically different than what the CEO of a company makes?
@@senaesul3128 What is your actual argument here? The same tired regurgitated rhetoric about how we somehow need capitalists to organize us? We have instantaneous global communication - your argument is invalid :)
@@catxtrallways CEO's don't interact with managers?
This might be the best episode you have done yet. This has given me A LOT to think about and examine in my day to day life more so than 99.99% of other content I have watched anywhere. This is a really interesting argument and I plan to put a lot more thought into these ideas.
Wow, I didn't expect to watch the whole thing!
Very well done!
Thank you for telling people. Technocracy makes capitalism look like heaven.
I'm 25 minutes in before I realize he's saying "cloud fiefs" not "cloud thieves" which really changes the tone of the conversation 😅
to me it did not
And this is how I learned lol
Same same
Took me till I read this comment, I thought he was using thieves as feudal lords
I kind of thought Adam should have clarified that early on. I picked up on "fief" in the context of the conversation, but it's not a common word these days and I figured that it probably sounded like "thief" or "thieves" to many viewers
Oh my goodness…Yanis and Adam, two of my favorite people. Thank you. 🏜️🕺🏻🐕🏖️
The internet and its main backbone structure we all use today was conceived, designed, and built all on the taxpayers dime. Most if not all the coding formats used to create the programs that are used everywhere were created by universities with taxpayer grant money or by individuals who gave the code away as freeware.
Taxpayers pay for it, cRapitalist take it and profit from it. Same as with many pharmaceuticals. Created in universities on the taxpayer dime, taken by big pharma to profit from.
brought to you by neoliberalism and globalists. make everything into a commodity subject to arbitrage.
This is the greates problem with our system.
Many, if not most, of the products of our economy, whether physical or intellectual or digital, were conceived, designed, and built by generations of people combining work and ideas, and then someone with the money and means to play the system decides to "own" it and profit from it. The internet and medicine are some of the most glaring examples of which.
God bless comrade Yanis. An excellent disection of our current predicament.
This is the most important discussion of this era. Thanks for interviewing Yanis.
Always a pleasure to hear and see Yanis Varoufakis. An exceendingly smart man. One of the few shining lights in the economics profession.
It is his profession to identify who agrees with what he saya whilst he serves the other side!😢
How fitting that someone with 666 in their profile likes Marxist ideology .
10:42 Amazon is a company town, but virtual. "You can have anything you want! As long as it goes through *me*"
And because most of the Web runs on AWS, the entire online space is renting from Amazon.
It was an absolute _blunder_ on the part of the other tech giants for allowing Amazon to swallow up this market.
Amazon is being destroyed by resellers selling ikea furniture and shein goods, just like Etsy. This whole libertarian deregulation thing is working out great 🙄
i am greek and i still feel proud when i first bought yanis global minotaur book.. when yanis writes you can't find a single unnecessary word in his sentence!
As Greek, why do you think yanis seems to have a better time being politically influential outside of Greece than inside? Seems to be loosing put to the KKE, NA and even PASOK
@@truedarklander we as Greek use to do that.. we've done the same thing to Socrates!
@@truedarklander Anyone who gets his hands in politics in Greece is ruined. Greece is ruled by corrupted police, corrupted politicians and mafia. The reputation of our institutions is abysmal. Yanis tried to do the right thing by chipping in at a difficult time by joining "SYRIZA" to serve as financial minister but the party's now ex leader (ex prime minister Alexis Tsipras) made a disastrous decision in 2015 and Greece's left popularity is still on a downward spiral from back then. So his reputation is forever tainted even if he immediately resigned and left the party the people still have a foggy and bitter taste of that memory. Moreover, people are completely convinced on the incompetence of the Greek government. They keep voting for rightwing parties that use the same old tricks again and again: promise the voters "gifts" then take 40x the amount. At the moment in our parliement we literally have 4 parties that are exactly the same just with different aesthetics.
He literally imposed the Troika's cuts on Greece and he comes from an elite Greek family
@@OnlineEnglish-wl5rp no he didn't? He left the government when tsipras agreed to the troika's terms
This is a real eye opener especially since the Atlantic Council thinktank recently had a public Zoom on getting US federal government storage systems "AI ready" for all sorts of algorithms no doubt.
absolutely amazing interview!! 🔥
PayPal is another example, they received investment capital to create their platform, then extract rent at all aspects of the transaction.
What would a conversation between he ans Sapolsky be like? Sapolsky has thought deeply about what he calls the cruelty "... of our invention of poverty."
Marx, Lenin, and Stalin called what's happening now a long time ago. This is still capitalism, it's just the endgame that it was working towards the whole time.
I also want to point out landlords still don't provide anything, exactly like their feudal counterparts.
can i make a point how do you do Socialism without it leading to a dictator marx led to Hilter
@erayskirata6716 my grandad built a house near a beach by himself (construction worker). He was renting it when he wasn't living in it. I thought land lords built their houses and rented them bc of the money and effort it cost to build them for the longest time, till middle school when I realized what was happening. I'm from Greece and it's lately that we've become a neoliberal hellhole after a fascist dictatorship. Till then, most people built their own homes, by themselves. Like my grandad.
Yes I agree. With one added component; the exporting of manufacturing to the imperial subjects and leaving the management in the hands of imperialist capital. And then the subjects seize the means of production leaving the system in boundless contradictions. Do you see it too or am I simply wrong?
@@JkjoannakiThat sounds beautiful. Building your own home, your own blood and sweat, sometimes tears. Something truly yours, for you and your family, and family to come.
Another stolen future.
You also have to keep in mind that without roads, electrical grid, Internet and Internet networks, which were all funded by the government. Amazon would not have made 1 cent.
Airports, Post Office. . . .Legal System.
Feudal land owners was the whole point of “income tax”, was to tax the land owners on the income they were accumulating through renting use on their land, to prevent them becoming more powerful. It wasn’t originally meant for labor income. Someone along the way didn’t want the people to become self sufficient on their own land and have a sense of power, by not requiring dependency on factories and banks. If the people were required to pay an income tax, they would have to work for someone else as in a factory or company to pay the tax. To make everyone work even more, leave no time for self sufficiency, convinced to buy all the products, convinced that they’re needed. So now they have labor and customers.
Other than using the word they way to much you come closer than most here. The last "they" you referred to was the state. The main obstacle in the way of free market capitalism.
There are certain things we all must buy like laundry detergent, and if I see a laundry detergent ad a sufficient number of times that it annoys me, I will never buy that brand again. I wonder if the algorithm takes that into account, and shows me ads for every other brand of laundry detergent such that I fall into their trap and buy the one they didn't advertise, and it was reverse-advertising the whole time. Anyway I'm so poor that it's like a superpower. Ads don't work if you don't have any money (points at head)
This is Exactly how I feel about targeted advertising.
“The algorithm will serve you more relevant ads for things you actually want, not unrelated BS” is the positive spin they give for data collection.
However it doesnt matter how cool or useful or necessary to my life the ads are…. they are irrelevant because I can barely afford to buy stuff secondhand, let alone new, let alone new and online with shipping fees.
The ads will never work because I simply cannot buy anything.
Company: "Here's our product! You'll love it! Buy it today!"
Me: "F**k you."
The problem with this thinking is that the algorithm isn't actually trying to sale you anything, they are being paid to serve an ad, not sale a product. It doesn't matter if you despise literally every product you see an add for, Google already got paid. Plus they know that eventually you will look for a product online either to buy or to find reviews and when you do they sale the top slots on their search engine to the highest bidder so they still can claim to drive sales. Lastly you are a very small part of all the people using the internet so the only need just an equally small amount of money from you and add it to that amount they get from everyone else's data.
DIY laundry detergent involves washing soda, fels naphtha soap, & borax. I haven't seen an ad for any of those in decades. Lots of instructions on the internet.
Ads are a tax loophole
I'm so glad to see this. This is a much more refined version of an idea i've been struggling to articulate for years.
Check out Jaron Lanier. He’s been saying this stuff for the better part of a decade now.
I've been saying we exist as data serfs for a while now. Nice to see I'm not the only one who has latched on to this theory.
Adam, your ability to paraphrase and encapsulate the main thrust of an argument is impressive. I'm so glad there are competitors to right-adjacent monopolists like Jordan Peterson.
I'm a big fan of Janis. I discovered him after watching several great financial documentaries. I highly recommend watching, America Freedom to Fascism, The Corporation, Confessions of a Economic Hitman, The Secret of Oz, and Zeitgist Addendum. I hope many more people watch this video, and take him very seriously. Thank you.
Yanis is the definitive G.O.A.T. A great leader with crazy levels of integrity. Thanks for putting this video up!
He is E good academic but a disastrous politician and an egomaniac
yeah, he's great and all when he's abroad. he has all his intellectual friends and elite scholars in all the universities. exactly like Elizabeth Warren. Meanwhile, back in Greece he has created an egomaniac party, just to brand himself internationally, and effectively breaking up the radical left into more tiny pieces, instead of uniting and defeating the ultra-right wing. In two elections in a row he has done enough damage so that now the New Democracy right-wing government is able to enjoy a supermajority. Unfortunately he has zero real connection with the Left on the ground or unions. He's basically a celebrity going around on UA-cam channels while having real contempt for Greek or poor people. But you would never know that because you don't speak Greek and in English he has a different persona when he is with his wealthy peers. Just google 'varoufakis photoshoot paris match'. He later apologized about it because I guess it hurts his "brand"
@@peteralexander6619 Would be interested to know your reasoning
Yanis is simply the best. Thank you for this.
What a mental treat listening to Yanis. He is phenomenal and an avid Star Trek geek. His latest book is well-written too.😊
Didn't know that. Trek is one of the few optimistic sci fi realms out there so this is great to hear.
Ugh, try explaining this to my wife who constantly defends our absent landlord...
Defends the fact he increases rent annually the legal maximum.
Defends the fact he never bugs us (beyond making sure rent is due like 3 days before the earliest payment date).
Defends that he never stops by unexpectedly (or expectedly, not once has he made or hired anyone to repair shit.)
Best one hour nine minutes and twelve seconds Ive spent in a long time.
I've never thought about my digital identity in that way before and it made me incredibly depressed.
Yes, and at this part he said instead of having to call Uber why can't I just get on some public app and say I want to get from here to there and have companies bid on it.
I never would have thought of that.
@@SolidAir54321 because that's insane gibberish that doesn't mean anything is why.
Why would there be a platform in an app where companies "bid"(34:30) to take you when they already have their own apps? And what are they bidding on? What for? A contract where they will earn billions of dollars?
These companies won't do that because it doesn't make sense for anybody involved.
Don’t forget this is exactly what they want
@@SolidAir54321 because that doesn't mean anything is why.
Why would there be a platform in an app where companies "bid"(34:30) to take you when they already have their own apps? And what are they bidding on? What for? A contract where they will earn billions of dollars?
These companies won't do that because it doesn't make sense for anybody involved.
Same 😢
Listening some more to this and "serfing the web" is never going to sound the same again.
The way you guys fought against AI was impressive. I like to watch Yanis as well. What a coincidence, artists are starting to get what transitions are happening at the moment.
this is a really good episode. thx!
>makes video about evil bastards controlling us through online platforms
>ad halfway through for online groceries
I'm not quite sure I see a huge distinction between this and say, owning a railroad in the 1800s, or being a slumlord. Landlords have always extracted rent based on the power afforded to them. And capitalism has always had companies that did not directly produce anything but instead functioned as a middle ground between other companies in the extraction > processing > consumption chain.
I don't think he's wrong in what he's describing but it seems odd to try and brand it as a novel thing, I think it's pretty consistent with things we can see going back hundreds of years.
My understanding is that he is arguing that we no longer live(?) under capitalism (as commonly understood and at least least not completely) and that it’s actually reverted back to feudalism. One key factor being the lack of a labor market. The novel part is that the feudalism has mutated to be primarily digital or in the cloud via(?) state funding/investment, privatization, what have you. Something like that
There’s already an old fashioned term for it - “crony capitalism”
It hasn't mutated at all, this is what it is. This is what it always was. This is capitalism working exactly as intended to funnel all the wealth to the top.
Thank you for your statement about "identity". You are exactly right.
Loved this interview 👏👏👏
I disagree with Yanis's analysis that what we're dealing with is fundamentally different than capitalism previously. Even Max Weber observed, nearly a century ago, that the capitalists who end up with all of the power and control are distributers not those doing the production. Additionally, the control over what we see and targeting us with differing products isn't new. That cultivation of experience is literally built into infrastructure, where certain parts of cities are designed to be inaccessible by buses to keep the poors out. It's also been a feature to divide populations and pit them against each other. And certain products will only be marketed to certain populations, even without digital mediums.
Nothing he's talking about is *new* about capitalism. We might say there's an intensification and refinement of these processes going on. Having read the literature that I have I'm convinced that capitalism, from the very beginning, was a refinement of feudalism even as it displaced monarchs. Additionally, markets are carved up into territories (and are privatized), so as to maximize profitability for firms unable to eliminate one another and most of these people DO inherit the wealth and power that leads them to their status.
I overall like Yanis, but that analysis is lacking. :/
Thanks for naming this nightmare
It's labor that builds and manufactures goods. He paints a rosy picture of what Capitalism use to be, what it "can" be, but the system has always been about exploiting those who are not lucky enough to be born into money (or ruthless enough to exploit thousands of people for their labor). What we have now is because governments and society have doubled and tripled down on a system that CANNOT persist due to it's inherent contradictions, one being that you cannot have perpetual growth and profit on a planet with finite resources (the exploitation of which is making said planet uninhabitable for life as we know it).
Life isn't fair, never was and never will be. How and where you are born, is not up to anyone to decide. Deal with this fact of life and maybe you start making better decisions.
I enjoyed this conversation - very informative
24:00 U.S. patent laws that exist to benefit U.S. tech, media, and pharmaceutical companies are also a way companies can prevent competition.
Agreed, along with sanctions, tariffs and outright attacks on other country's products and investments (eg. Huawei and 5G, Nordstream, etc.).
Adam, you need to follow this up with prof michael hudson. His book and forgive them their debts is a book that will change everything for you. A focus on that book would be a must see.
It is called "surveillance capitalism", where behavior is a free surplus for enterprises to record and which its manipulations has the capacity to influence/control customers.
Shoshana Zuboff
Yeah. It's just same old capitalism but with surveillance aspects to it. People didn't say capitalism was over when the public relations industry or the oil industries rose up.
how is it 'surveillance capitalism' if what we are witnessing isn't capitalism
I think you also missed the opportunity to talk about the ‘’shareholders market’’ and the fact that it does not matter anymore if people are satisfied with products/services etc and only matters the opinion of shareholders, stock market and hedge funds.
Also the housing market!
Welcome to capitalism - Profits over People!
Even shareholders opinions don't matter if they challenge the status quo.
Exxon is suing it's shareholders because shareholders want to vote to put preventing climate change over short term profits.
maybe... just maybe, not everything should be a commodity for the 'free market' to operate on? maybe?
@@grumpyoldman6503 The mistake is to believe that the market is "free" heh
@@3nertia absolutely, in the long term and in the presence of competition (you know, the good part of capitalism economists like to dwell on because it's a good fairy tale where costs go down and quality goes up), profit trends towards zero.
capitalists are interested in monopoly and rents, not competition (also subsidy, which is leveraged via corruption of political power).
In England, they own our water supplies too. 75 % of British water authorities owned by foreign companies and individuals that previously had nothing to do with the environmental management. Our water quality and river levels are at an all-time low, and raw sewage is regularly pumped into our river systems. Our chalk streams are choked by silt/mud and pollution. But all you hear on social media is carbon zero!
A related tangent….in the US we have laws that regulate the treatment of human waste, but their are no regulations regarding the treatment of waste from live stock. Hundred of thousands of tons of live stock feces goes untreated and ends up in our rivers, lakes and ground water.
I’ve never listened to your show, but thank you for platforming Yanis Varoufakis. He fucking rules, he’s one of the most brilliant authentic public intellectuals/academics/economists/commentators on current events/Marxist thinkers/etc. out there, & I couldn’t be more thrilled at the extent to which he has been mainstreamed with a lot of guest spots all over UA-cam lately. These are the kinds of voices that IMO ought to be right at the center, part & parcel, of a truly civilized, truly productive public discourse, but who until very recently have largely been treated as this unthinkable radical fringe who had to be set to the side & ignored because they were too challenging to capitalist orthodoxy, too willing to question the powers that be, & didn’t conform to their stereotypes about the left (that all socialists/communists/Marxists were just crazy Stalinist Holodomor apologists who want to bring the gulag to America & eliminate civil rights or some nonsense like that, when left Marxists, anti-authoritarian pro-democracy leftists more broadly, are in fact much more anti-authoritarian & in favor of a much more genuinely democratic degree of participation by the people themselves than American style classical liberals (American “liberals” & “conservatives”), fascists, OR the authoritarian side of the left (the actual Marxist-Leninists & Leninists & the like, states like China’s)… I was happy to see it when Bernie Sanders suddenly went from being someone I knew or when I was 15 because he was the only self-described “socialist” senator (though basically a social democrat) to becoming the most popular politician in America & having a real shot at the presidency (if the DNC hadn’t rigged it to stop him)… But now to have a figure who I genuinely think is a real model for the left- a truly deep thinker with really important insights into economics that we all ought to be learning & taking to heart… It’s uplifting, to say the least- & god knows I can use some uplifting indicators with things as they are right now.
I also recommend anyone who hasn’t, listen to a Varoufakis’ interview/conversation with David Wengrow… Though all his talks are worth listening to tbh. And look for his upcoming (or maybe newly released by now?) book Technofeudalism whenever it is out! His points on that topic have also been spot on, so I’m sure the book will be great. I’m psyched to see him writing about some more general theory/historical analysis instead of more specifically writing about the Greek debt crisis & his time as Finance Minister.
"Influence capital" is now the focus for monetization within the current iteration of capitalism. The worst aspect of this is because there is a *higher* value attributed to hidden influence vs. overt.
Interesting how "fiefdom" only sounds like a mispronunciation of "thiefdom". It's a bit like while playing Minecraft recently, it occurred to me that maybe "mine" is called that because when asked what the thing is, the first guy who owned a mine just said that it's theirs - "What is that? Mine, that's what that is."
Oh god, I though he was actually saying "thiefdom". Thanks for clarifying, the language seemed a little crass.
When I go into the earth and harvest resources Im literally just grabbing stuff and calling it mine.
Mine diamonds? Diamonds! Mine!
excited to watch/listen but know I'll end it feeling more depressed and hopeless than I am now before starting. Here goes...
If you like hope, read his book 'Another Now'. Great book although the plot is a shallow device for the message.
❗We're serfs living under feudal technocrats, this ain't capitalism, has gotten me laughed out of boardrooms to church for 10 years.THANK YOU ! 👋🤣
it’s a bit ludicrous to believe that maintaining a website that aggregates thousands of book reviews, for example, is “theft” instead of a service
I've stopped calling it "Capitalism" I've been calling it "The Machine."
Holy crap thats so creative 😳😳😳
Late capitalism is less a machine and more a snake eating its own tail.
The real name is fascist or corporatism but the fear of communism they said.
Its even worse than he described.
Amazon Web Services provides the infrastructure for most of the internet. Netflix runs on AWS.
Uber runs on AWS, Grubhub too.
Even a lot of corporate and government intranets are farmed out to AWS because its scalable and failure proof.
So notably does Amazon control the marketplace, they control the road.
The state paid for allowed and patron aws. Inherently not capitalism bc the state is worried about controlling the ppl. Who is at fault capitalism or the state?
it a little surreal to cut to an ad in the middle of this haha
Advertising isn't intrinsically capitalism.
@@wesleystreet no but the algorithm is built around advertising
One of the best conversations ive listened to in a long long time
“Capitalist markets” means declaring the monetization of everything (and famously understanding the value of nothing). And the phenomenon of “profits” represents an infliction of violence somewhere in the process, whether in the acquisition of resources, in the process of production, or during the process of exchange, including when accounting for externalities and sustainability.
Techno-Feudalism sounds like a proper way to call our current economic system.
in my opinion for capitalism to function long term. We need strong unions, those unions need to be easily held to account by their members, and a culture that doesn't promote the idea that employees are a cost to the company, enriching your employees lives should be the goal of the company.
In Jeff Bezos's opinion, no.
That's idiotic and it's clear that you don't actually understand the problem, or capitalism ...
Welcome to capitalism - Profits over People!
@@3nertia That's what the unions are for, to swing things back into people over profits. And they historically have worked very well.
Hooolyyy Sh*****TT ok man. You're now amazing in my book. You were that funny guy with fun facts and now you're talking with one of the most important voices in today's world.. Greetings from Argentina.
We shouldn't be looking for heroes, we should be looking for good ideas.- Chomsky
This was a phenomenal interview. And super important discussion. I want my dividends yesterday already!
Those top hats wouldn't have been found on the workers who actually produced the products. Without labor nothing would be accomplished in the United States to profit from. In fact, there would be zero GDP.
I'm not an anti capitalist... but Yanis is the best at making me deeply question that position. We no longer have a market when there are 5 sellers who control 90% of it. The magic of capitalism is its ability to create upward opportunity. This isn't possible when a market is captured.
The magic you speak of, is a myth perpetuated by the fiefdoms. They dangle a potential life of ease and luxury, knowing that only 18% of people born into poverty will ever lift themselves up into the middle class. The percentages of middle class people who reach upper income is even lower. It’s an American pipe dream.
Late stage capitalism:
When consolidation ruins the open market that is supposed to self regulate industry.
When capital owns politics and media that is supposed to regulate industry.
Supply side economics when the oligopoly can decide they no longer care what the market wants.
Industries and infrastructure that should not be for profit, are owned by corporations instead of state or collective owned. (Propaganda convinces people that Communism and Socialism are enemies of Capitalism instead of supplemental)
There is nothing wrong with regulated capitalism supplemented by state infrastructure and social cooperatives. Particularly if any citizen has an opportunity to become capital owners themselves through entrepreneurialism and investment.
But our apathy in our Democracy has allowed the checks and balances for Capitalism to be corrupted.
That never happened, money doesn't exist is just a symbol with value enforced by law, and what buys is resources of colonized countries, and people.
You CAN'T afford to pay for my time if there's real "upward mobility" it would obviously be too expenssive, it's the capitalist myth of a world where everyone can be a CEO (ceo of what, where are the workers? Remember everyone is a corporate owner now...) it literally doesn't work if the group with "upward mobility" goes above 1%.
And in the same way the proletariat can't survive without cheap production from literally, slaves, because with how corps inflate prices the working class ironically won't be able to pay for their own labor (a full time farmer not being able to buy food) so someone without literal human rights on India or Africa has to produce cheap enough that the proletariat can afford and the capitalist gets his cut.
Upward opportunity...what a vague phrase
"upward opportunity"
look inside yourself and question your need for a hierarchy in the first place.
I don't know about anyone else but Amazon's suggestions are absolutely ridiculous for me. I can't think of a single time I've bought anything without having to search hard for it, let alone a time I bought a suggested item.
I wonder if that’s intentional, in that you’ve been flagged as someone not satisfied by advertising, so they intentionally make you work for it, to create a false satisfaction of overcoming adversity. And, in the case where what you find is merely just “good enough” and not exactly what you were hoping for, you’d create your own sunk cost fallacy and buy it anyway. Either way, Amazon still gets its cut, all while deceiving you into thinking that you stuck it to The Man.
Just my thoughts though: I obviously have no way to prove that either way.
It's become a nightmare. I avoid it at all costs
@@eevengerz4318 That would require collusion from multiple search providers. I'm pretty good at searching. The only time suggestions even meet my requirements is when I have just bought enough of something and they try to sell me more. Could they be messing with me? Absolutely. But why? I'm just not that important, nor that paranoid.
The CC keeps saying "thief" and "cloud thief." Because of his Greek accent. But he is saying "fief" as in fiefdom.
"Dictionary
noun
an estate of land, especially one held on condition of feudal service."
"I do all of this work and at the end of the day UA-cam gives me a small percentage of the revenue I've actually generated. This is a bizarre way for me to do labor."
I mean, it may seem bizarre to someone who has their own business, but this is basically how labor has worked for centuries. UA-cam just doesn't have a formal contract stating that you're an employee.