2024 Mercator-IPC Visiting Senior Fellow Yanis Varoufakis made a speech entitled “Cloud Capital: What It Means for Universities and the Broader Community” at Sabancı University on Tuesday, October 8, 2024, between 12.40 and 13.40.
In his opening speech, Sabancı University Vice President for Education Cem Güneri stated that Dr. Yanis Varoufakis is a leading figure who has contributed to global discussions on issues of critical importance to society as an economist, academic, and intellectual. Prof. Güneri also spoke about the interest that Dr. Varoufakis’ books have generated worldwide, and particularly focused on his latest book, published in 2023, “Technofeudalism: What Killed Capitalism.”
Yanis Varoufakis began his speech by explaining the historical development and basic characteristics of feudalism and capitalism. He focused on the effects introduced by technology that has developed at an extraordinary pace, and by the companies that have developed this technology, on people's behavior, trade, and the entire economic system. As a result, he shared his thesis that the classical capitalist system has been replaced by cloud capitalism and technofeudalism by giving examples. Dr. Varoufakis also touched on the effects of technological and systemic changes on academic life and their possible risks. He concluded his speech by stating that the academic community and administrators have duties in order not to lose the most critical characteristics of universities, such as proposing different and contradictory ideas and producing knowledge through interaction between individuals.
You can click here for the conference video.