Former Greek finance minister Yanis Varoufakis says capitalism is dead and that we are now 'serfs' for the likes of Jeff Bezos and Elon Musk.
An Emergency Warning has been issued for parts of Nambeelup, Serpentine and the Shire of Murray in Western Australia. For the latest, search onGreek-Australian economist Yanis Varoufakis drew international headlines for his left-wing ideas during a brief stint as Greek finance minister in 2015.For Yanis Varoufakis, a "maverick" economist and former Greek finance minister, this change of how we consume products marks the death of capitalism.
Referencing the television program Mad Men, Mr Varoufakis told The Drum that the market is no longer a "one-way street" with advertisements. The second important factor to Mr Varakoufis is how the likes of Amazon circumvent the traditional analogue market. "Cloud capital is not like industrial robots or telephone systems. It's not like electricity grids. It is there not to produce, but it is there to modify your behaviour," he said.More accountability needed over those who own the algorithms
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