Technofeudalism: The New Lords of the Digital World
Technofeudalism: The New Lords of the Digital World How Big Technology Companies, Data Ownership and Digital Platforms Are Reshaping Capitalism, Economic Freedom and Democracy Author: Rupesh Ranjan Introduction: The Rise of a New Economic Order Human civilisation has witnessed several major transformations in the organisation of economic and social power. Feudalism was built around the ownership of land, industrial capitalism around the ownership of factories and machinery, and modern capitalism around capital, markets, production and financial institutions. Today, another transformation is taking place, one that is gradually changing the relationship between individuals, businesses, governments and economic power. This emerging phenomenon is increasingly described as Technofeudalism. Technofeudalism refers to an economic and social arrangement in which a small number of powerful technology companies exercise disproportionate control over digital platforms, data, algorithms, infrastruc...