Yanis Varoufakis resigned as finance minister of Greece after only six months on the job, following what he described as his own “complete failure” to negotiate a resolution of his country's debts. A little over two years later, he has restored sufficient confidence in his views to predict the end of capitalism.
Varoufakis told an audience at University College London a few days ago that large technology corporations and artificial intelligence will cause capitalism to undermine itself, with technology eliminating more jobs than it creates. As an example, he cited Google, the search engine giant that after less than 20 years in business employs over 60,000 people, up more than 10 percent from 2015.
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