Greek economist and former Finance Minister Yanis Varoufakis took to the stage on Saturday afternoon launching his Australian tour on his book ‘Technofeudalism’ with a session at Adelaide Writers’ Week.

The book, praised by supporters as “his boldest and most far-reaching yet” argues that capitalism is dead and that a new economic era has begun.

“The chief irony of our times is that a historic mutation of capital, cloud capital, has replaced capitalism with something far worse: technofeudalism,” said Yanis Varoufakis.

“It explains our collective conundrum: from the Europe’s deindustrialisation, the death of social democracy and the demise of the liberal individual, to the New Cold War. While private equity asset-strip all physical wealth around us, cloud capital goes about the business of asset-stripping our brains. To own our minds individually, we must own cloud capital collectively.”

The Adelaide Writers’ Week discussion was presented onsite on the East stage and one of the sessions available to audience streaming at home.It was chaired by Greens SA Senator Barbara Pocock who spoke of a “huge crowd” attending the session.

“We had fun. The world is changing and so too must progressive politics.” Ms Pocock commented on socials.

Later on Saturday, Mr Varoufakis was welcomed by the Hellenic Australian Chamber of Commerce and Industry South Australia for a discussion event also featuring South Australian MP Tom Koutsantonis.

The event, held at the Adelaide Pavilion presented the two guests in a conversation over the major geopolitical events of 2024 and their impact on Australia’s economy, society, and personal lives.

The wars in Gaza and Russia/Ukraine, the China-Australia relations, and upcoming global elections, with a particular focus on their effects in South Australia, were among the topics discussed, alongside a presentation of Varoufakis’s latest book.

Varoufakis is visiting Australia as a guest of the Australia Institute, as part of the policy think tank’s 30th anniversary celebrations.

“Yanis Varoufakis is not only one of the world’s leading intellectuals his unique ability to simultaneously highlight the flaws in modern economics and engage people in conversations about solutions is just the tonic Australian public debate needs,” said Dr Richard Denniss, executive director of the Australia Institute.

Varoufakis was scheduled for a second Adelaide Writers’ Week appearance on Sunday morning joining a panel discussion with Richard Denniss, Joëlle Gergis, Thomas Keneally and chair Natasha Mitchell on the West Stage.

He will continue his Australian tour with a Melbourne event on 6 March, followed by Sydney on 12 March. Canberra’s National Press Club will be his last stop on 13 March.