Neoliberalism, Neofeudalism, and Precarity: A Response to Albena Azmanova and Jodi Dean

This is a response to the articles of Albena Azmanova and Jodi Dean included in this issue, exploring the intersections and divergences in their analyses of contemporary capitalism. I argue that the lens of neofeudalism that Jodi Dean invites us to entertain can offer a different explanation of Albena Azmanova’s diagnosis of contemporary capitalism. Notably, I propose that capitalism’s neofeudalising tendencies contribute to the rise of inequality, the decline of class politics, and the increase of monopoly power. Contrary to Jodi Dean though, I will claim that there were two crucial transformations of contemporary capitalism that spearheaded the emergence of neofeudalism: the rise to prominence of Big Tech and asset management companies after the 2008 global financial crisis.