Rentier capitalism, technofascism and the destruction of the common

This paper critically examines the emerging discourse on technofeudalism. While mainstream narratives celebrate technological advancement driven by American tech giants, proponents of the technofeudalism thesis argue that a new ruling class – ‘cloudalists’ – has supplanted traditional capitalists, extracting data and rent in ways reminiscent of feudal relations. However, this discourse fails to account for the ongoing dynamism of capitalist investment and competition. In contrast, this paper advances the concept of rentier capitalism by revisiting Marx’s analysis in Capital, with particular attention to his often-overlooked theory of ground rent in Volume III. Drawing on Marx’s notebooks published for the first time in the Marx-Engels-Gesamtausgabe (MEGA), the paper argues that rentier capitalism constitutes the most advanced and contradictory form of contemporary capitalism, which accelerates the destruction of the common and undermines the conditions necessary for working-class solidarity. As the dual crisis of capital accumulation and anti-systemic movements intensifies socio-economic and political instability, the threat of an authoritarian turn towards technofascism becomes increasingly imminent.