Is this system we are now in still capitalism, or is it just Feudalism with modern technology?

@DGI

I tend to think this description of financialised capitalism as 'techno-feudalism' is a bit misleading. Varoufakis is an economist, and generally gets that right - but (like Graeber) can be weak on history.

Feudalism was not merely a different economic system - it entailed entirely different legal, financial and ideological conceptions - obviously enough if you look at the central role of the church and monasticism, and its view of usury as a sin, in medieval Europe.

The feudal (and other pre-capitalist) ideas of ownership and property were not so much the 'absolute title' capitalist conception, but rather a system of rights and responsibilities tied in with traditional, religious, bloodline, etc, obligations - hence the early (and ongoing) resistance to 'enclosure' (privatisation): the 'landowners' didn't really 'own' the land in the modern sense - both they, and the 'peasants', had a set of rights and obligations with respect to the land and its produce, which the landlords were abrogating. Colonialism was essentially the same process: privatisation of what had been common property and resources. The early 'left-wing' resistance to capitalism, whether in Europe at the end of the middle-ages, or across the world as a result of slavery and colonialism, was in this sense conservative - a defence of older, more stable, and in many ways more acceptable social relations.

What is described as 'techno-feudalism' is rather just an extreme form of capitalism, best described I think by Piketty - capitalism's inevitable descent into rent-extraction, which happens to coincide with some technological developments, but would have proceeded anyway - and ultimately requires not feudal, but fascist political and social relations to sustain it.

@DGI i think its still capitalism because the process of capitalization of assets is the defining feature and thats still whats going on mostly.
@DGI Its still capitalism lol. Putting the blame on "feudalism" of any kind gives the impression that "we just need to get back to real capitalism" which is dumb as fuck - the mode of production has not changed, and the capitalism we have right now is a natural result of capitalism's inherent driving forces. The only thing that will ever change this is the abolition of capitalism and the creation of a socialist society.