Author: Alastair Panzarino

There is some value in the empirical understanding he advances; the degree to which modern capitalism is unproductive, unprofitable, monopolised, and increasingly relies on assets, rents, and finance to make any money. Yet any useful insights that Varoufakis has are obscured by his confused notion of technofeudalism. What Marx identifies as the core of capitalism — generalised commodity production and the wage-labour social relation — still reigns.