5min chapter

Intelligence Squared cover image

Martin Wolf and Yanis Varoufakis on the Future of Capitalism - Part 2

Intelligence Squared

CHAPTER

The Importance of Labor Intensity in Our Economy

I don't see this in such catastrophic terms at all. To me, do I like Amazon? Well, I use it too. It saves me immeasurable amounts of time. The products are usually breathtakingly cheap. By the way, Amazon is not a particularly profitable company because they're very good accountants. They never beat that. And then finally, just look at what our economy actually consists of. Technology gives and technology destroys, and it has always done so. We've de-industrialized massively if you look at economic dataBecause the economic system can produce the sorts of things that Amazon sells incredibly cheaply. Some of that's problematic, and it's become a really small

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