2017-10-19 — independent.co.uk
``Capitalism is going to undermine capitalism, because they are producing all these technologies that will make corporations and the private means of production obsolete. And then what happens? I have no idea."
Describing the present economic situation as "unsustainable" and fearing the rise of "toxic nationalism", Mr Varoufakis said governments needed to prepare for post-capitalism by introducing redistributive wealth policies.
He suggested one effective policy would be for 10 per cent of all future issue of shares to be put into a "common welfare fund" owned by the people. Out of this a "universal basic dividend" could be paid to every citizen. ''
Or perhaps technology is making "capitalism" obsolete (it's not even clear, however, that "capitalism" is what's being displaced, so much as an ad hoc set of public-private power relations mixed in with semi-free flowing capital and quasi-free markets...)
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