Varoufakis: IT technologies will overthrow Capitalism
Varoufakis and this author phrase the argument strangely. The gist is simple: technology will reduce the demand for labor, so we will no longer need to compete in a capitalist society. I think he&#x27;s right to fear a society in which the elites control all technology, but it&#x27;s a bit unfounded to fear a Matrix-style dystopia, wrt destructive AI or mind control or some misreading of Baudrillard&#x27;s simulacra. The fear, in the short-term at least, should be about dealing with the jobs that technology eliminates.<p>For me, it&#x27;s about people - when truck drivers are eliminated as a profession by self-driving technology, what will they do? And I&#x27;m not sure - we should come up with some way to return those profits&#x2F;savings from lower labor costs to the people.<p>I think this article deals with the &#x27;technology v capitalism&#x27; question in a better fashion, without delving into robots controlling our minds or whatever other nonsense Yanis meant this time: <a href="https:&#x2F;&#x2F;www.jacobinmag.com&#x2F;2015&#x2F;03&#x2F;automation-frase-robots&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.jacobinmag.com&#x2F;2015&#x2F;03&#x2F;automation-frase-robots&#x2F;</a>