Capitalism’s final crisis has birthed a new system of concentrated power

Evidence

Our Minotaur will, in the end, be remembered as a sad, boisterous beast whose thirty-year reign created, and then destroyed, the illusion that capitalism can be stable, greed a virtue and finance productive. By dying, it forced capitalism into its last and fatal metamorphosis, birthing a system where power is in the hands of even fewer individuals, who own a brave new type of capital. — Yanis Varoufakis, Technofeudalism, 240

Categorization

• XREF: connects to: A distinct managerial class merged government and corporate power within capitalism — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 902; Feudal collapse transferred power to merchant capital that birthed capitalism — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 514; Neoliberal crisis response expanded rather than shrank state power — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 288 (+5 more)

Broader Connections

• Capitalist power infected and colonized state, deliberative, and propaganda powers. #expands (0.85) — Yanis Varoufakis, Technofeudalism, 839
• Neo-liberal capitalism decentralizes authority yet intensifies domination. #corroborates (0.78) — Catherine Malabou, What Should We Do with Our Brain?, 141
• Neoliberal crisis response expanded rather than shrank state power #expands (0.75) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 288
• Feudal collapse transferred power to merchant capital that birthed capitalism #expands (0.72) — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 514
• Totalitarian political regimes are symptoms of deeper economic systematization #expands (0.72)
• Under postindustrial capitalism, increased freedom and abundance produce more sophisticated social control #expands (0.72) — Fredric Jameson, Marxism and Form, 216
• A distinct managerial class merged government and corporate power within capitalism #corroborates (0.70) — Yanis Varoufakis, Technofeudalism, 902