TECHNOCAPITALISM: OUR DYSTOPIAN PRESENT—AND FUTURE?

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Blockchain, AI, and other technological innovations could be used to improve human flourishing. Instead they’re making the oligarchy richer and more powerful at all of our expense.

e are living through an incipient technological revolution. AI, blockchain, cryptocurrencies, commercial space travel, and other innovations are rapidly transforming everything from the workplace to the financial architecture of the global economy. While many of these technologies hold vast potential to benefit the social good, the multinational corporations and financial oligarchy that drive innovation and own its products are solely motivated by private profit. The consequences are unfolding all around us. As technology and the power of the oligarchy advances, the misery and disenfranchisement of the majority grows. We are now in an age of “Space Barons and Techtitans,” and the future they are leading us to is one of even greater exploitation, inequality, and ecological crisis. Loretta Napoleoni, author of Technocapitalism: The Rise of the New Robber Barrons and the Fight for the Common Good, joins The Chris Hedges Report to discuss the technocapitalist present and future described in her book.

Transcript

Chris Hedges:

A small group of high-tech savvy entrepreneurs who understand the velocity of technological innovation have harnessed this new power to establish predatory high-tech monopolies, such as Uber or Amazon. They subvert labor laws, strip the state of its power, gut regulation, ignore legal norms and amass personal fortunes in the hundreds of billions of dollars. Their apps, services, and private equity firms dominate our lives. They are technological predators seen in every aspect of social existence commodification. The living wages of working people decline. The gig economy abolishes job protections, sustainable incomes and benefits. AI replaces human beings. The most vulnerable are pillaged for profit. The sick feed the profits for big pharma. The bodies of poor men and women on the streets of our bleak.

…………………………….. Joining me to discuss our dystopian present and most probably our dystopian future is Loretta Napoleoni, author of Technocapitalism: The Rise of the New Robber Barons and the Fight for the Common Good

……………………………………….. Loretta Napoleoni:

…………………………….What is really Bitcoin? Bitcoin is a currency which is produced by software, and this software performs all the task that a true currency should perform…………………………….

So Bitcoin is produced by software. So it’s not controlled by any central bank, it’s not controlled by any governments. The software has been programmed in a way in which these Bitcoin are released in blocks by an activity, which is called mining, and this activity is solution of mathematical formulas. The solution of mathematical formulas becomes increasingly more and more difficult. ……………………………………………………………………………………………………………………………………………………………

What is the serial entrepreneur? Well, this is robber baron basically because they spotted an opportunity. They learned from that opportunity. They made a lot of money from that opportunity, and then they decided to reproduce that model in another sector at the higher and higher and higher scale. Now, all of this was motivated by profit.

So there’s absolutely no desire to produce anything that can enrich society. This is why I’m talking about the common good. Possibly, this is due to the fact that these people grew up with video games, so for them it’s all a game. See what I mean? That there is this filter of the internet, which doesn’t really make them understand exactly what does it mean to be exploited, or exploited, I would say by the system, but possibly also because of their ego, because all of a sudden being a serial entrepreneur, being Jeff Bezos for example, or being Elon Musk or Peter Thiel was of the maximum that you could achieve, so everything was allowed to you because you were… Except those original members of the cyberpunk because you are smarter than the others…………………………………………………………………………………………………………..

he idea of colonized Mars is part of the narrative, because the truth is that if you tell people, “Well, don’t worry too much about climate change. Don’t worry too much about overpopulation.” Shall we discuss overpopulation also? Because we’re going to go and colonize Mars, and then Mars is going to be as beautiful as Earth, or Jeff Bezos comes with these weird ideas to create artificial planets inside, which of course, people could live. There’s a film, I think it’s called Elysium. It’s a film where there is one of those artificial where the poor people are on the Earth, they’re left behind, blah, blah, and all the rich people live in these artificial planets which are absolutely beautiful, and they all look like California, of course, where the weather is always nice. It’s not cold, blah, blah. Clearly, if you fall into that trap, you don’t worry so much about the planet because you think, “Well, there is a solution.” Well, no, there is no solution. This is the only planet we have. If we do not save this planet, our grandchildren will not be able to survive.

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Chris Hedges:

It serves whoever controls it. Unfortunately, we live in an age where the technocapitalists and the corporations have us in a death grip. https://therealnews.com/technocapitalism-our-dystopian-present-and-future