‘Capitalism is dead. Now we have something much worse’: Varoufakis tells @carolecadwalla “Jeff (Bezos) doesn’t produce capital, he argues. He charges rent. Which isn’t capitalism, it’s feudalism. And us? We’re the serfs. “Cloud serfs” theguardian.com/world/2023/sep…
@peterjukes @carolecadwalla You can call it rent or you could (more properly) refer to it as providing a desirable service for a fee based on what the market will pay. Or you can call it whatever you want, but it certainly isn't feudalism.
@peterjukes @carolecadwalla Varoufakis is usually spot on
@peterjukes @carolecadwalla Brilliant interview and very timely. Thank you @carolecadwalla
@peterjukes @carolecadwalla This bit ‘an accepted culture in business that said executives should maximise shareholder value at expense of everything else’ is absolutely true and the root of much of what is wrong with the world.
@peterjukes @carolecadwalla On BBC @bbclaurak Varoufakis came up with a really interesting point. We have subcontracted so many jobs from Civil Service that there are no longer the skills left to manage major projects as even the Govt managers are contractors. Everyone is on cost+. Hence HS2.
@peterjukes @xpatjock @carolecadwalla I'm not certain this is the issue it appears to be. Telecoms networks have always sold capacity as their product. Pipe networks sell capacity to clients e.g. the UK network. Infrastructure capitalism is different to manufacturing capitalism. That's all. Airport same.