Yanis Varoufakis writes that Chinese academics are increasingly reconsidering Marxist economic theory because of artificial intelligence’s potential to circumvent capitalist market distortions. He notes that most Chinese economists paid only lip service to Marxism until AI’s open-source availability and affordability made the technology a subject of serious scholarly attention. Varoufakis argues the technology promises to help economies avoid the “rent trap” inherent in traditional capitalist systems.
