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Have you happened to read the book? He has a chapter dedicated to his decision to call it technofeudalism rather than capitalism, hypercapitalism, technocapitalism, etc. Basically he’s saying profits have been decoupled from a company’s value, and that it’s no longer about creating a product to exchange for profit (which, in his words, are beholden to market competition) but instead about extracting rent (which is not beholden to competition – his example is while a landowner’s neighbors increase the values of their properties, the landowner’s property value also increases).
Anyways he describes Amazon, Apple store, Google Play, cloud service providers, as fiefdoms that collect rent from actual producers of products (physical goods, but also applications), and don’t actually produce anything, themselves, besides access to customers, while also extracting value from users of their technologies through personal information. They’re effectively leasing consumer attention in the same way landowners leased their lands to workers.
It sounds pretty accurate to me, but I haven’t had much time to chew on it. What’s your take on that idea?
The top comment on this thread contains a conversation (argument) about Chomsky’s view on the term “genocide,” as well as his verbiage discussing Serbian-run concentration camps.
I listened to Understanding Power fairly recently and it definitely changed my outlook and broke me out of the lull of neoliberal self-satisfaction, and helped introduce me to other leftist writers. So I’m a fan of Chomsky’s, but it doesn’t sound like he had that good of a take on the Bosnian genocide. He seems to only reserve the word genocide for the Holocaust so as to keep its significance, and despite supporting a UN fact-finding commission that did find Serbia was running concentration camps, he refers to said camps as “refugee camps,” instead, and seems to infer people had the freedom to stay or leave as they please (even if this was technically true, I doubt it was practically true).
So, not a good look for him, even though he had other viewpoints that I’ve been strongly influenced by.