Capitalism Will Eat Democracy — Unless We Speak Up By Yanis Varoufakis commonlit

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In the article "Capitalism Will Eat Democracy-Unless We Speak Up," written by Yanis Varoufakis, former Minister of Finance in Greece, delivered a speech for the TED series. In that speech, Varoufakis questions the way world economics and capitalism have impacted societies around the world. Varoufakis also refers to the political impact.

In the speech, Varoufakis explains the connection that exists between politics and the economy and the way these affect democracy in different countries.

He refers to the fact that although many private companies have invested in new industrial plants and factories, more than a quarter of individuals from 25 to 54 years old in Europe, Japan, and the United States, do not have a formal job.

That is why this Greek economist questions Capitalism, He thinks that "this idle cash" has to be used to increase the education and talent of the people and to "finance technologies that help the planet."

a.   it resulted in widespread unemployment.

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