Intelligence Squared
Martin Wolf and Yanis Varoufakis on the Future of Capitalism - Part 2
May 6, 2023
In a riveting continuation of their debate, Martin Wolf, Chief Economics Commentator at the Financial Times, and Yanis Varoufakis, the Greek politician and economist, clash over capitalism's future. They dissect the monopolistic powers of tech giants and the evolving landscape of capitalism influenced by autocratic regimes. Varoufakis advocates for a post-capitalist world, while Wolf defends democratic capitalism as essential for human flourishing. Their insights challenge listeners to rethink the balance between reform and radical change in our socio-economic systems.
29:33
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Quick takeaways
- The debate highlighted the impact of cloud capital on traditional market dynamics and the rise of 'cloud thieves'.
- Insights were shared on the comparison between democratic and authoritarian capitalism, emphasizing global economic interdependence.
Deep dives
The Future of Capitalism: Cloud Capital and the Tech Sector
The podcast episode delves into a debate on the future of capitalism, highlighting the impact of cloud capital on traditional market dynamics. Concepts such as Amazon being more than a market due to algorithm-mediated transactions and the rise of 'cloud thieves' are discussed. The episode explores how the tech sector's dominance and financialization post-2008 crisis have shaped a new form of capital, prompting a reevaluation of property rights and the need for international cooperation.
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