Letter – Technofeudalism

Dear Editors

In the November Socialist Standard there is a critique of Varoufakis’s work Technofeudalism. The author of this article indicates that it is a divergent of classical Marxism, emphasising the statement specifically ‘Capitalism is Dead. Welcome to Technofeudalism’. (note the inverted commas). The SP is known for its theoretical adherence to the scientific Marxist interpretation of Capital. On reading its magazine, for a while now, I recognise that it is unshakeable in its desire for pure socialism, which in this period seems distant. Marxism is scientific in its analysis of periods, it therefore assesses that which pervades, whilst recognising the past.

The colossal rise of the IT industry closely followed by the AI industry has not changed the theory of Constant, Variable and Surplus Value (CVS). It has however massively warped it, to the advantage of the owner, even further and it’s in cyber space. Compare a labour-intensive manufacturer, where the preceding CVS applies to the vast empires of the cloud and its opaque streams of surplus value.

This is not of course a cloud! It is a vast warehouse of electronic equipment, often set in remote areas with a skeleton of technicians and security (proletarians). This enormous structure consumes vast amounts of power and water for cooling (Constant Value). It has been built so there is now the CVS to apply to that, which, if the workforce is unionised, may give a reasonable return to the V element.

What Varoufakis is emphasising throughout this work is the careful disguise these moguls of the internet and social media are deploying to use billions of unpaid labour, pressing keyboards, to further their Surplus and their empires. It is most significant that recently Trump met the foremost IT moguls, and it would seem no traditional manufacturers.

All Varoufakis books are worth reading and it should be remembered that as a socialist minister the courageous struggle he had with the EU over a more compassionate deal for Greece, which was lost, when the EU showed its true colours, and the masses of Greece lost with it. As socialists we need to be aware of who our comrades are and who are not.

PHILIP CHAMBERS

We don’t agree that Varoufakis was a “socialist minister” but at least he had the political courage to resign rather than impose austerity on the working class as the state of Greek capitalism required. Not many leftist ministers do that when faced with the choice of whether or not to bow to capitalism’s will – Editors.

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