this post was submitted on 18 Sep 2023
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Technofeudalism is the logical evolution (I'd say end stage, but I'm not sure it can't get even worse) of capitalism. That's what happens when the 0.1% own 90% and decide to turn it up to eleven.
Technofeudalism would require more than just inequality. The capitalist State would need to be eroded so that the tech-lord replaces all government services and functions. Markets would need to be eroded in favor of the tech-peasants simply bartering with each other for subsistence. Wages and employment would have to be eroded so instead the tech-peasants pay a tribute to their tech-lord in exchange for the right to use the tech-lord's land and resources. Changing jobs wouldn't be a matter of just applying somewhere else, it would mean pledging fealty to a different tech-lord.
Feudalism isn't just capitalism with extra steps. It's literally a different economic system.
Didn't have time to go into details in my last post. I think the most important traits of technofeudalism are regulatory capture of the government and ubiquitous rent-seeking—"you'll own nothing" (I highly doubt in the "...and be happy" part).
The big corpos have realised that extracting value is easier and more profitable than creating value. Hence subscription everything including heated seats and better acceleration in cars, platform economy (Uber, Air BnB et al.). The latest Unity fiasco is also an example of a company trying to extract as much value from the game developers as possible, and it will not be the last attempt at this.
What makes technofeudalism possible is the IT infrastructure of the world (hence "techno"). Uber-like platforms and subscription services for hardware were not practical half a century ago, but ubiquitous Internet access, smartphones and DRM makes it easy today.
In short, just like the peasants in the old feudal ages had to pay to the lord to have a place to live and make a living off the land (and realistically had nowhere to go to where this was not the case), in technofeudalism you have to pay for your techno-lord corporate middlemen to have a place to live and be able to use the tools (software or hardware) you need to make a living with no realistic alternatives due to regulatory capture.
I will say that the gig economy is actually distinct from the job market. Rather than being a worker employed by a business owner, you have no employer and are forced instead to buy all your own equipment and fuel to perform work. That's not distinct from capitalism, though.
Once Uber starts demanding loyalty pledges from drivers and forbidding them from working for Lyft, it may start to look more feudalist. As it stands, though, Big Tech doesn't demand exclusivity. Under feudalism you couldn't serve multiple Lords - you had to choose.
Also, feudal competition wasn't market based. It'll be feudalism when Uber drivers start killing Lyft drivers for being godless heathens.