Yanis Varoufakis: Is Capitalism Devouring Democracy?
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- Опубликовано: 16 май 2018
- In is address to the Cambridge Forum in Massachusetts, Economist and fierce EU critic Yanis Varoufakis considers the need for a radically new way of thinking about the economy, finance and capitalism.
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One of the most illuminating talks you'll ever hear.
Peter Tschann-Grimm - I’m wallowing in his intelligence, he’s a bit of a hunk too! (Secondary observation, at least that’s what I keep telling myself) hehe!
Seriously though love this mans thoughts.
I joined Diem25 from its founding days.
Worth a look at its principles.
bit of a stretch tbh.
show us something more illuminating!
@@petertschann-grimm1468 yes plz, show us NPCs what we must think !
Yanis always has something worthwhile to say.
I enjoyed this immensely. I am a Massachusetts resident with a minor degree and a trade certificate because I grew up on social benefits and the foster care system. I did what I could.
I used to work in that neighborhood, or close enough to have clients that came in from these areas. Watching you hand their pretentious, seemingly well-thought out and educated (to them) questions back to them as if to say "go sit in the corner and think about why you're wrong" was worth the time I invested in watching.
Well done, the best to you and yours.
0
It was magnificent
Example at 1:06:27
Is Canada a good example of a free society 😂
To think this message was published 5 yrs ago and basically the trajectory as why we are where today and trust that people get to hear this presented in layman-terms and what we do henceforth with this information is never to fall into this trap again. Thank you for this fantastic presentation and trust that more people are exposed to this and with your future guidance, a achievable hope.
21:48 21:51
Brilliant! Yanis, keep teaching us how to make the world better for all.
He made Greece worse..he’s acting..we had a referendum 62% said NO &they disregard it UNLAWFULLY & turned it into a yes! When he was in gov…traitor
This guy is next level smart. In 30 minutes he explains what most people dont even learn through 4 years in college.
Because here there is only capitalism: from our founding, now, and forever into the future. Any other mode of thought is 'un-American', as I have heard 3 times on CNN. In order to pull this off, they don't teach history either. We live in a giant feedback loop.
I agree with you. However, I think many of you ancestors went to America to escape capitalism in Europe.
@Ray Easton Depends on the country but sometimes yes. There was also some poorer countries still hanging on to Feudalism during that time.
npina lol yet u didnt to a single thing
refute every point of relevance start @ 0 im highly interested andw illing to look at your thoughts without bias
I had my phone in my pocket and I heard this guys voice saying the most brilliant things. So glad this started playing on its own.
Happy accidents!=) what were you watching before?/What other shows do you like?
Same here. It's 4am, and this came on after watching cdrama. I appreciated his explanation of the "Clearings". I am saddened that I wasn't taught this in school, but did find out about it a few years ago. Such a tragedy. Destroying the houses so people could not even have a place to shelter.
Same here, fell asleep, woke up early morning and this was playing. Subliminal autoplay at work again.
As an ECONOMICS major & a history BUFF , i cannot remember a better piece than this one
A politician that tells the truth, you are amazing Sir and I hope your lectures wake more people up 🤩👍
the politician - give me all power and wealth and i will make your socialist dreams come true. right before every socialist death trap initiates itself and murders its citizens.
hes a china fan boy
@@markvietti He is not duh listen again to what he said about China
that's why he was not a politician for very long
Watching this two years later and his words ring even more true.
Agreed. Because incrementalism moves at a glacier's pace, if at all. Especially when it comes to doing anything to help people at the bottom.
With every passing moment the disparities get more extreme for all of us. Its getting more and more true by the day till capitalism breaks in on itself. And gets replaced (or even reborn)
Same as pal and can you imagine what the BBC’s, MSNBC’s of the world would think of him now!?🤪🤪Obviously he’d have been told to say that by Moscow haha
@@sadieandme3971 we dont have left wing media, just right wing.
@@jamesscott6661 sorry for being nosy 🥸🧐but is that you on the fifty cal? And about the media? Just scumbags, apart from a few good apples. And those apples are under attack from the neo libs constantly. Make America Left Again 😇
This guy makes so much sense. I learned quite a bit from his answers. And he's very entertaining to listen to.
You should try his books, well worth every penny, although most the content is available in videos like this
A lesson in how Capitalism will save USA 🇺🇸 always. Thank you for a great explanation of economies affect on markets..
USA has studied Socialist aspects of globalizations NEGATIVES.
MORTGAGE BROKERS hire lawyers who do the first closing on mortgage. They state in first contract that you will be sold after 10 years and renegotiate your mortgage to the next part of your purchase with their "Associates" guarantee on mortgage broker-- NOT TAXPAYERS. If you have done your consumer diligence they renew you. If you have not enhanced their capital (pay more early on principal in loan from the beginning =increases brokerages cashflow and allows for increase in interest to new lower credit purchasers)or kept increasing consumer value your mortgage will be sold . Fanny& Freddie need to GO and let financiers do what Countrywide did for me. They were low fees, low interest. FINANCE and ACCOUNTING should be in curriculum by High school MATH. Teach Capitalism & Accounting for budgeting, purpose of Capital investment is NOT Flip that house. That is a STUPID ACCOUNTING EXPENDITURE for fast money. The usual culprits ,too few experienced trades people... carpenters, plumbers, electricians. Same in most countries. So you purchase a flipped house and lower the neighborhood pricing...shooting your neighbors investment.
Americans should be taught Capitalism...Business...Retail... Sales.
A very great thank you to professor Yanis and to the Cambridge Forum, because if Aristoteles and Karl Max listen to professor Yanis, they will raise from their graves to chose him as the prodigy professor, who explains the truth of our modern Capitalism, with its goods and diseases.
Aristotele and Karl Marx can't listen because they're dead. It's not possible to listen, full stop, if you're dead. So, unfortuntely they're not likely to rise again. But well done for trying to give a metaphor.
Thank you for your insightful comment, Roy. You have really opened my eyes to the fact that Aristotele and Karl Marx are dead. You must have a lot of experience in dealing with dead people, since you seem to have the personality of a corpse. Maybe you should stick to what you know best, and leave the metaphors and the critical thinking to those who have a pulse. But well done for trying to be relevant. your literal interpretation of metaphors is as refreshing as a summer rain in the Sahara. It’s true, the dead can’t listen. But if they could, I’m sure they’d be thrilled to hear your enlightening commentary on the limitations of their auditory capabilities. Keep up the good work!@@royborrill2711
@@royborrill2711 I don't know if you need a therapist or an English teacher
This is extraordinary. What a brilliant man. Why am I just hearing from him now? I agreed with everything he said.
You’ve been indoctrinated into the Marxist cult… where heaven
Is advertised, yet hell is the only outcome
Yanis is the only economist that lives out of the indoctrination boxes of economic education, I value his opinions and his acumen on world affairs.
Because he was not only a scholar but also an actual politician. From theory to practice, the guy was prime minister.
Richard Wolff is as good. The key to both their genius is that they understand the system to the extent that see through the bu11$#it WHILE SIMULTANEOUSLY having a healthy empathy for the little guy.
@@rogue8533 , finance minister
Also, suggest reading up on Thomas Pikitty's and Ha-Joon Chang's conclusions .
The indoctrination boxes is a good way to describe that
I love this man's work, and he is so ridiculously lucid planted in reality that it hurts good when I hear him describe this world
So bloody true. I am studying this video and not watching it.
He is fantastic in economist
Guys this Monster is an absolute narcissist who has a big idea for himself one of the worst politicians that have ever existed in the Greek history a huge thug that looks attractive but he is responsible for the 2015 debt and economical corruption of Greece as when he was the Greek minister of Finance back in 2015 he shut down all the banks and businesses in Greece .Also Europeans and other investors withdrew their investments from Greece resulting at more than 20.000 people to lose their job and living almost in the line of poverty, he vanished the Greek middle class, the least to say he has been involved in many scandals
Reality hurts
❤😮😅
This guy is SPOT ON!! How have I not heard of him before?!
I recommend to read his Book "Adults in the
Room " Eye opener.
Especially his comments paralleling and comparing the British voters who voted for Brexit (weren't xenophobic, racist, etc.) versus or similar to the American voters who voted for Trump while many of whom voted for Obama four years earlier. The commonality of the diminished middle class or newer lower class "sticking it to the elites" by denying them what they coveted most and made their privileged lives more difficult.
Um... mainstream media hate him.
The poor guy struggles alone because all the Greek channels are burying him.
👍👍🇨🇦
" A person working 18 hours a day in an Uber is not a person, that is a moving monument to misanthropy."
Straight fire.
Autonomous driving will fix that... Also can't we build a city for autonimous ebikes or autonimous controlled horses, they are less dangerous than cars even if all of the sensors, network card, battery, motor break.
@@aoeu256 WAOWW!!!
@@aoeu256 That's right China's on way to be the next biggest game changer !!!❤
Misanthrop - A person who hates or distrusts humankind.
>Be uber driver
>Give your vehicle and service to those who need or want it, literally giving your time and energy to other people
>Have your back turned to complete strangers while you let them in your vehicle and chauffeur them around.
Yeah this guy really knows what he is talking about SO INTELLIGENT OMG
@@eyeball9124 *woosh* it went right over your head
I dont think i've ever listened to a more engaging and interesting lecturer, its like he draws you in and he talks in a way that makes even complex concepts easy to understand.
He sprouts lots of total nonsense Useful tool for division in Europe
Yes, he’s a brilliant man.
@@tylorryn4163 if you believe in fairies
@@zoricazorica5752 Stop saying nonsense
Yanis does offer some useful criticism of the conditions of Capitalism.
The potential for our involvement in what the Capitalists do with Capitalism
seems limited.....
"crime against logic" is my new favorite phrase.
“The unforgiveable sin of Hitler's Germany was to develop a new economic system by which the international bankers were deprived of their profits.”-Winston Churchill
@@clarencespangle6351 Firstly, this isn’t an original Churchill quote. This was written in a forward to a 2001 republished version of a book.
Secondly, the English is much to clumsy for Churchill.
Thirdly. Don’t you dare use him to speak your antisemitic conspiracy theories about banking being the reason the world fought Germany.
One of the most enlightening videos I’ve ever watched. Thank you 🙏
One of the great economists of our time.
An understanding of history past & present; Economics and people. Clarity and morality. and all done with humor and love.
Certainly made it a lot clearer for me.
I'm a fan of Yanis, but there are a ton of inaccuracies and mischaracterizations there. I get that he's trying to put together a brief, impactful and persuasive narrative, but he's committing what he would call "crimes against historical fact" in doing so and that's very disappointing.
It's clear because Yanis telling a simple story. Economics, unfortunately is more complex. There are a lot of things that he's skimming over.
To Paul B and Brian G: it’s difficult to argue with such Masterful and concise critiques such as yours, not vague at all!
00⁰0000000000
As a German, please accept my condolescence for treating Greeze so badly. I am unfortunately one of only few Germans that will admit that the EU was only punishing Greece and not looking for solutions to a problem. It was a buyout of private debtors, but as long as Greece is paying the bill Germany is even making money of it. Disgusting!
Das land heißt Greece.
Ich weiß das manchmal Deutche leute nutzen z und nicht c.
Also Griechenland ist Greece.
Aber Greeze klingt echt lustig.
Z ist S ubrings :)
Why do you apologize for something you have such limited control over? Apologies feel good but only solutions can make amends. Germany also self flagellates over Hitler. However, most people say would join the NAZIs. In a nutshell, if you take away food and jobs people will become afraid and angry. If your leader borrows money to feed and employ the people, that is a religious experience for them. If the leader scapegoats X (Jews) for the national problems, that fear and anger will run wild and be all too happy to punish (Jews, Uiegers, Catholics, the Bourgeoisie, Jan 6 protesters, Hillary supporters, Trump supporters ,…) and the leaders are all too happy to point the finger at them to get the ball rolling. Be proud of Germany and learn from the mistakes of the past. You can’t lay guilt at the feet of a future generation of kids without generating the same civil unrest and hatred that empowers the Hitlers of the world
nonsense. Greeks never work, they retired at 45 and Germany, UK and France was paying for the Greek pensions
Fish gotta swim
Birds gotta fly
Cheetahs gotta run...
Tyrants gotta make money and mayhem...
:--/
'Twas ever thus.
Greece is not so innocent, don't be so quick to be hoodwinked by this charlatan. Look into his history. However, he is a smooth and articulate speaker because he knows economic history. That does not make him a good or honest person. In any case, as far as Greece goes, it was admitted into the EU on lax terms which were unacceptable in the first place for EU Membership, with poor infrastructure and corruption levels that did not qualify them for it. The Rothschild Dynasty is responsible for involvement of getting Greece into the EU and Euro currency, and Greece has been milking off the hard work and generosity of Germany and German Working People.
This video is such a teacher. The part about is going from surplus to debtor nation has so many historic events in them. I think I get it all now, why prices are high, energy, " power", etc.
Yes so they can Crash the system. Then bring in this NWO global socialism
Thank you for succinctly explaining the history of the world economics or lack there of!
Around half-way I started to experience a rush of blood to my head, that left me astonished and jaw dropping all the way. What a magnificent, superb and utterly simple way to explain our complex and intricate reality. Mind mindbogglingly clear!! Eureka, Yanis!!
🤣🤣🤣 not very bright are ya
I UNDERSTAND THIS MAN..... IF HE HAD BEEN MY PROFESSOR IN COLLEGE I WOULD HAVE GRADUATED SUMMA CUMLAUDÉ
@@eddasturrup4912 🤣🤣🤣
alall00lll 0za0add0isand0
@@nolandclark653 Do you have an in-depth knowledge and intelligence to outsmart this man, thus your mocking post?
Sir Varoufakis explaining & decoding the current financial model of the world in simple language. Brilliant.
Salam and Respect from Pakistan.
Im frm pak too. where r u frm(city etc)?
@@asmadali- City of Lights.
Sorry to hear what the west as done to you’re country , Imran is a good man
Imran Khan refused to be a slave, so he had to go. What has changed?
Traducir è una necessità. Vi prego...
Superb lecture. He connects so many dots throughout history in a way that makes so much sense. We would be wise to listen to this man.
I love the little clip at the beginning, so when I send this to people it hooks them. wish more lectures did this
I don't know how many times RUclips has recommended this video to me, but OK, I'll watch it again.
probably the best 2 hours i've spent on YT
I think the science fiction novel he speaks about (around 1:19:00 - Where industrial robots start organizing a new revolution) is called "The Star Fraction" by Ken MacCloud, a Scottish author.
a really fun and crazy energetic sci-fi / cyberpunk mash-up novel that won a bunch of awards a few years back.
I really enjoyed it. 👍
I am watching this over and over. Spellbinding. I am still lost and trying to trudge along this trail that leads to a level to a clear view of the making of the modern world.
Same here. I 'v known for about 20 years that we use debt to fuel our economy. Now I kinda know why and that is so fascinating.
"Elections must not be allowed to change economic policies." Wolfgang Schäuble, as quoted by Varoufakis here
Is he a politian or political fruad in a bankers pocket?
@@patdiggin7053 Wolfgang or Yanis?
@@Zen-rw2fz Yanis quoted what Wolfgang Schauble told him
how did you type an umlaught?
@@charlespackwood2055 Perhaps it's hard to imagine but there actually are keyboards with other key layouts than US QWERTY in existence. Crazy, uh
"In my country we have a nazi party in parliament" - Fortunately, not any more: as of October 2020, Golden Dawn is thankfully criminalized
If they don't deal with austerity, then Golden Dawn isn't going anywhere. Its not free elections that allow Fascism but poverty.
@@alliums361 God? If there were a God, things would be much better than they are now. We`d literally be in Heaven right now. And I`m afraid war and fascism is only going to get worse. Thank God, indeed! God is the Devil, anyway.
As an example to parents everywhere and to save the world (from Himself); God so loved the world, that He gave His only begotten, perfect, and innocent Son, to be tortured and killed, as a ritual blood sacrifice; to appease Himself, so that He could forgive us for the sin, He originally condemned us to in the 1st place. John 3: 16
God is the author of evil.
"I form the light, and create darkness: I make peace, and create evil: I the LORD do all these things." Isaiah 45:7
Shall there be evil in a city, and the LORD hath not done it? Amos 3:6
And he is proud of the evil that he creates.
Behold, I will bring evil upon the house of Jeroboam, and will cut off from Jeroboam him that pisseth against the wall. 1 Kings 14:10
Behold, this evil is of the LORD. 2 Kings 6:33
Thus saith the LORD God of Israel, Behold, I am bringing such evil upon Jerusalem and Judah, that whosoever heareth of it, both his ears shall tingle. 2 Kings 21:12
Thus saith the LORD, Behold, I will bring evil upon this place, and upon the inhabitants thereof, even all the curses that are written in the book. 2 Chronicles 34:24
All the evil that the LORD had brought upon him Job 42:11
The Lord ... will bring evil. Isaiah 31:1-2
I will bring evil from the north, and a great destruction. Jeremiah 4:6
I will bring evil upon this people, even the fruit of their thoughts. Jeremiah 6:19
I will bring evil upon them, which they shall not be able to escape; and though they shall cry unto me, I will not hearken unto them. Jeremiah 11:11
Thus saith the LORD; Behold, I frame evil against you. Jeremiah 18:11
I will bring evil upon this place, the which whosoever heareth, his ears shall tingle. Jeremiah 19:3
I will bring evil upon them. Jeremiah 23:12
For thus saith the LORD ... I have brought all this great evil upon this people. Jeremiah 32:42
Judah will hear all the evil which I purpose to do unto them. Jeremiah 36:3
None of them shall remain or escape from the evil that I will bring upon them. Jeremiah 42:17
Thus saith the LORD of hosts, the God of Israel; Ye have seen all the evil that I have brought upon Jerusalem. Jeremiah 44:2
Thus saith the LORD of hosts, the God of Israel; Behold, I will set my face against you for evil. Jeremiah 44:11
I will watch over them for evil, and not for good. Jeremiah 44:27
I will bring evil upon all flesh, saith the LORD. Jeremiah 45:5
I will send the sword after them, till I have consumed them. Jeremiah 49:37
Out of the mouth of the Most High proceedeth not good and evil? Lamentations 3:38
I will set mine eyes upon them for evil, and not for good. Amos 9:4
The inhabitant of Maroth waited carefully for good: but evil came down from the LORD. Micah 1:12
Behold, against this family do I devise an evil. Micah 2:3
Things the Bible says that God has done:
The LORD smote all the firstborn in the land of Egypt, from the firstborn of Pharaoh that sat on his throne unto the firstborn of the captive that was in the dungeon.... And there was a great cry in Egypt; for there was not a house where there was not one dead. Exodus 12:29-30
And the LORD sent fiery serpents among the people, and they bit the people, and much people of Israel died. Numbers 21:6
Thus saith the LORD of hosts ... Now go and smite Amalek, and utterly destroy all that they have, and spare them not; but slay both man and woman, infant and suckling, ox and sheep, camel and ass. 1 Samuel 15:2-3
Behold, O LORD, and consider to whom thou hast done this. Shall the women eat their fruit, and children of a span long? shall the priest and the prophet be slain in the sanctuary of the Lord? The young and the old lie on the ground in the streets: my virgins and my young men are fallen by the sword; thou hast slain them in the day of thine anger; thou hast killed, and not pitied. Lam.2:20-21
Things the Bible says God plans to do in the future:
I also will do this unto you; I will even appoint over you terror, consumption, and the burning ague, that shall consume the eyes, and cause sorrow of heart: and ye shall sow your seed in vain, for your enemies shall eat it. Lev.26:16
And thou shalt eat the fruit of thine own body, the flesh of thy sons and of thy daughters. Deuteronomy 28:53
And I will feed them that oppress thee with their own flesh; and they shall be drunken with their own blood, as with sweet wine. Isaiah 49:26
Therefore will I also deal in fury: mine eye shall not spare, neither will I have pity: and though they cry in mine ears with a loud voice, yet will I not hear them. Ezekiel 8:18
Behold, I am against thee, saith the LORD of hosts; and I will discover thy skirts upon thy face, and I will shew the nations thy nakedness, and the kingdoms thy shame. And I will cast abominable filth upon thee, and make thee vile. Nah.3:5-6
Behold, I will corrupt your seed, and spread dung upon your faces. Malachi 2:3
I`m sorry this was so long, but I wanted to make sure I had enough evidence to prove my hypothesis beyond a reasonable doubt. Hail Satan, lol!
Do you have any evidence to support your hypothesis? I didn`t know Mr. Crowley was a Nazi...
that was excellent. ✊🏾❤️🌍✌🏾
do you believe in unicorns seriously
This man is brilliant and so articulate ( even if I dont agree with everything he says). Love the answer to womans question about China - I think what he said between the lines - Americans think we have a right to bomb countries into getting what we want (and supporting absolute monarchys) while we object to China building ports and roads. Its part of the fallacy that we have a "god given right" while others should follow a different set of rules.
Exactly! I disagree with him on 50% but he is obviously such a brilliant person that it would be a pleasure just talking to him. Civil discourse is the difference between a colony on mars and colonies in the Gulag Archipelago.
What don't you agree with him about?
@@Anomaly66666 socialism...while I do agree that capitalism is failing. Politically, capitalism started failing when super packed were legalized (under Regan) and special interests began controlling the funds available to our congressmen/women for elections. Corporate "veil" should be lifted. Let fossil fuel companies pay the cost to insure over damages which may occur from global warming. Same with other corporate interests- level the playing field.
@@Anomaly66666 socialism
Watched this twice in the past couple of yesrs and very much enjoyed the thoughts, questions & ideas presented in this discourse..
Bravo Yanis - we need to be looking to you, Richard Wolff, Cornel West and many other economists, politicians & philosophers who are changing the discourse from the combative to the conciliatory which upholds the dignity of ALL creeds, nations & people's.
I love that a non-native English speaker makes me hit the dictionary.
hegemon?
@@OG-zr3bw well no not really but back when I first started with Chomsky there were some
Put that comment to the Nigel Farages Brexiteers !
That is the whole point of Marxist propaganda.
@M K making it complicated ,but fancy. We use to learn it in Marxism Leninism course in USSR. How to disintegrate the western society. Good luck with dictionary. No offence. I like his lecture as well, the only problem i fled USSR, i can see it all applied in practice, especially academia, being a student in UK. History will tell the story, if not rewritten to fit the narrative, like i saw in the greatest socialist experiment in the history.
I love Yanis Varoufakis. He can be the saviour of Europe if given a true chance. God bless him always.
Great video and audio quality, including editing. And of course Varoufakis gets to fundamentals of concepts in economics without losing the oft-forgotten humanity.
This is more important than anything I've ever read in school
It's crazy how much the Greek media attacked this man when he was economic minister
the greek media are controlled by the right wing and the mafia oligarchs.
Figures
He brought the economy to the brink of collapse with damages of 86 billion euros within only a few weeks. The people of Greece are still paying his cuckoo land idiotic experiment. He should be trialed.
I am here to renegotiate our debt. The people voted me in. Do you have a plan even if it's not acheivable? No! I am demanding a deal. You cant demand anything we face a collopse (spain, Italty etc) so sorry no can do - not even a few sums to look at. Nope, I am a academik with theories that I will badger with. Sorry, the cash machines have been turned off so run along - bankers are bastards - have you anything to table. Nope, well I am in a hard position, I do a deal with you, we are facing doom. I cant do any deal - but eventually your smart mouth will bet it right - 15 years later. Greece has thrown you out by election - but you have maintained the lime light with that same old dooms day vision - all systems screw up, whats your contribution? Tell us something we dont alredy know. a taxi driver would bring along a plan of arrangement no matter how ridiculous, I need something dummy? I am greek, lazy and cant prduce a paper from 20 years of living off the states nipple. You bully! Bully on this - soveiign debt - sell pireus to china - no way! It proved a good deal and he was opposed to it. So Australia decided your a tax and tax economists - they see - yeah one day we will ll see, but a stratergy and time table is handy. Do you think Capitalism and the debt crisis may be problematic - you'll see. You never aid anything when greece was gorging itself on debt, now its a cementry you think things may be problematic? Yes. Greece recovered more than you or anyone could forsee. China's opening of it's trade was a bonanza for greece, greece is till in the top 10 of container trade. It meets its interest - look s like we bet on the right straatergy. For now. WE now that one day we'll be fucked, your 15 years late and Greece voted you out completely - Greece threw you out - gotta job, yeah another state nipple - your a leech.
"money is a common fiction"
nervous laughs from the audience
?
I thought everyone knew this, especially a room full of social constructionists
They think it's some kind of secret and acknowledging the truth will have some dire consequence.
I just thought everyone knew money, law, property, rights, companies were not a real thing, just a lie we all believed. A common fiction, necessary for civilization. I didn't think it was something to be awkward over, at least with a group like this.
Mitza Paap - I do not argue that money is some conspiracy against the foolish. Without some form of common measure, we would be trading nails for strawberries and each deal would be different. It would be horrible with much starvation and deprivation. What surprises me is that the fact that this audience is somehow driven to nervous laughter when he says that money is a common fiction. Not common is the sense of pedestrian or some trashy pulp fiction novel, but common in the sense that it is shared. If we all do not believe $1 is worth $1, and there is no reason to beleive it is other than everyone else agrees it is, then money is just a fiction, not a common one. Even if the $1 is back by gold because gold is what we all commonly think it is worth. In the end, it is an imagined value that we all simultaneously believe in our heads.
Mitzi Paap But deregulation and speculation?
"In the end, it is an imagined value that we all simultaneously believe in our heads. "
yes and it goes beyond money, "society is an agreed upon illusion" - Durkheim. that's sociology 100. If people do not agree on the illusion no society is going to work. we've agreed that dollars are worth something.
Our corporate owners see democracy as a threat.
I remember him back then during the Greek Financial Crisis. He is an astounding intelligent man who stood up to the Globalist Powers of Capitalism. #LegendExtraOrdinaire
Always great when someone can hit on the things you know but string them together is a logical order that can be explained to anyone.
Thank you for sharing your brilliant wide angle telescopic and global understanding of our common political and economic situation!
A thoroughly satisfying and comprehensible delivery, Commanding our deepest gratitude...............
Justice and freedom for all....!!!!!!!
Thank you for sharing this talk!
Sehr sehr schön, ein Grieche mit viel Humor und viel Verstand.
Summary
1:03:15 "new" new deal; workers controlling their own shares; Obama and saving banks in 2008
1:06:25 China!
1:16:30 labor and 1929 crisis; relative power of trade unions; organizing the precariat; need of creative collective actions
1:21:50 need of federalization in European union
1:25:00 migratory crisis in Greece
1:33:50 industrial policy and how EUA can survive through federalism
1:36:30 Greece and staying or leaving Eurozone
1:41:30 nationalism and patriotism; fictional trades; punishing multinationals
1:46:27 eliminating credit systems; assimetric property over means of production
THANK YOU HOMIE
Good god, the woman with "China bad" is so cringe. She literally cannot fathom why she hates China, and went as far as admitting that she thinks China is doing what the west is doing to Africa. It's pure textbook projection. She wasn't fearing for the well being of Africa, she was fearing what will happen to her if China will to do what her people did to Africans and the collective Global South. It's purely fear of retribution. She knows what the west did to the rest of the world are absolutely abhorrent, and she is desperate to not let karma find its way back to the west.
Her desperation and ignorance and hate really reminds me of a Genghis Khan quote: “I am the punishment of God...If you had not committed great sins, God would not have sent a
punishment like me upon you.” And she is afraid that China will be that punishment for the great sins they have committed.
You have not spoken far too long, you have spoken just the right amount!!!
Very smart man
Oh my God the way you explain healthcare in the United States, I love you!!! Is there anything you can do to help us fix it?
“Let’s judge what we see”. Schooling ‘Karen’ 😂😂😂💪🏽👊🏽
Now I am watching this video and it is stunning. I cannot stop not rewinding.
Cronie Capitalism is devouring Democracy. Big difference from original capitalism. Fabulous talk Yanis.
Crony capitalism is the logical conclusion to capitalism
You are both wrong; its called it's called "communism"...
53:31 His response to her question was priceless. A coup d'etat is exactly what happened.
But then she didn't shift gears and continued to blame the electorate instead of the corrupt DNC.
Agreed. Still, it's too bad that the "populist" we elected as a giant middle finger aimed at the establishment wasn't anything more than that... Sanders was the better populist choice, but the DNC appears to hate working class people, in part because the working class, regardless of "race," tends to be socially conservative.
So brilliant, clear, and hilarious.
U keep him THERE in aglosaxonia n PAY his "brilliance"...
@@vasilykatuma5689 C'mon Vasily, don't be jealous.
Makes me want to go back to study economics!!¡as my economics professor suggested in my high school days! 😊😍We are blessed to have Yanis in this generations to give us a straight forward and sensible answer to our economics issues in our time.😇😊
I just watched this guy's video again today, a full year later, and his words resonate even stronger than ever before. Yanis is a stone cold GENIUS. When the reset comes, which is coming like a runaway freight train, men like this should lead the world.
The guy is a joke that promised the Greek people everything and delivered nothing.
All he can do is blame the Germans, who bailed Greece out. Ridiculous.
@@alfgrebs6172
Didn't know that. Maybe his rhetoric is better than his actions.
Debt loading is not a "bail out" Muppet. He talks a lot of sense. His views on climate change are directly alligned with the most evil, lying corporate interests. Climate change has now been proven a lie. Humans do not affect climate more than 1%. Source: COVID lockdowns, nobody driving, nobody flying, industrial output halted. Atmospheric co2 levels hardly changed. Go and check if you don't believe me- NOAA government website.
Genius? So democracy means let’s vote in a new govt who promises to not pay back their debts and once the creditors (Germans) say no then says well what’s the point in democracy. Ridiculous so democracy means let’s not pay our debts. Good luck with that kind of economics
@@alfgrebs6172 German's bailed their own banks out coz their banks mostly were holding the Greek Bonds. After their banks got rid of the Bonds a haircut followed to screw the others aka PSI. I have to agree tho that Varoufakis is a joke, but anyone that paid attention knew it from 2010, from the so called "Plateies/Squares of 2010" meetings.
The last two minutes are golden. It shows just how ensconced the brainwashing is that simple concepts seem ridiculously abstract, and how hard it is for people to decouple from what they've been taught is a law of nature, not a confidence game.
ensconced, impossible to decouple, so true.
How dare you suggest that we, the Jewish banking elite, are responsible for brainwashing the oiks of the world. Yours, Baron Rothschild.
The entire thing was golden. The last two minutes were golden for you.
Interesting.
IM GOING TO SKIP TO THE LAST TWO MINS
THANKS FOR THE HEADS UP
A superb and enlightening discussion. It really broadened my perception of how economics works in practical terms at an operational level. Varoufakis' interpretation of events is always worth listening to. His point at the end about the IRS taxing corporations on global income was terrific.
Briliant Mr Yanis, thank you a lot we totally agree with you!!
Yanis Varoufakis gave a very insightful economic explanation of the Enclosure Acts - which resulted in commoners no longer being allowed to use common lands for subsistence farming ( agriculture and letting livestock graze ).
However , Brexit is quite complicated - and has many issues
--> one of them being the City of London Corporation ( "the square mile " a City within a City ) is one of the financial capitals of the world with the highest concentration of billionaires in the world . London Citizens would watch the international ultra wealthy flaunt their wealth - while gentrification was occurring all along the Thames - from Oxford to London.
Actually, the financial services sector provides a vastly disproportionate amount to Britain's economy.
While British citizens with "gig jobs" had no hope of ever owning a house.
Surely Yanis Varoufakis would know this - or at least know that after the 2008 financial crisis ,
both Britain and the States had the lowest level of economic mobility in the western world.
--> Kent , once known as the garden country , because of all the EU trucking , is now known as the garbage county.
--> Organized crime gangs , from the EU , would enter the south west , steal everything that wasn't nailed down ,
and after a few weeks would return back to the EU , and the police wouldn't touch them.
--> Many British citizens felt they they were second class citizens in their own country.
--> farmers were tired of some unelected body in Brussells telling them what the standards were of their own produce .
What I love about Yanis is he is not only insightful, personal, humorous, wise, damning and eloquent, but he's the only left economist I know that is offering radically anti-capitalist, yet practical solutions.
@m g I like both their critiques, but don't find Wolf's solutions practical, and am not familiar with Blyth sufficiently.
@m g I think all economists should be practical and activist, especially in this day and age. I lament that economics has become an excuse to escape into theory.
@@AniishAu check out Mark Blyth
You know he was referencing Bernie Sanders, who is a completely rational actor in his own right. Varoufakis is pretty much a centrist in most of Europe despite all things. There are a lot of people like him.
If it's anti-capitalist, it's not practical--what's practical about sacrificing the individual to the collective, especially if that individual is an Elon Musk, a Thomas Edison, or a Socrates?
proper sunday content well delivered
well received sir
who needs dreams when clairity is present?
Wow, this is the most convincing argument I’ve heard on this subject!
Thank You i have been trying to explain this to people for years. Now i can just share your talk and save my breath. Great explanation of how the feudal system led to the mess we are in today; Enslavement through paid service industry employment, after paid education, instead of John carpenter inheriting his father's carpentry business, and John Smith inheriting the Smythery, and how surpluses control prices, and ignore famines. The states were all tied to the Vatican too paying dues so the pope would tell allies to assist when rebellions arose
you know today this guy is supposed to be a radical leftist while 40 years ago we would call him just social democrat. strange and sad times.
Reactionary assholes falsely call everyone less reactionary and austericist than themselves "leftist" and/or "radical"
It's best to pay them no heed
@Happy Joy Bravo Political ignorance is a drug. Many countries were born through worker unions of social democratic pushes in governance. It's learned in every other country the danger of capitalist propaganda
@Retractions Predicted That is how capitalism works. This is basically the marxist critique of capitalism.
Here in Greece we just call him a Ξεπουλημένος Προδότης a Sellout Traitor.
Kurt Klingbeil well mouth-breathing retards will just call him Marxist for quoting Marx and Engel
Bless you. Thank you Yanis for speaking the truth about the election and Bernie Sanders.
It is encouraging to hear an honest appraisal of economics and polutics.
I always liked this video. It was the one that introduced me to the fascinating world of Yanis Varoufakis 5 years ago!
I LOVE this man's mind!!!!!
That's a weird coincidence. I've been reading quite a bit about the enclosure of common land to farm sheep in Britain over the past few days. Lots of people were kicked off their land and forced into the cities where they then had to work for capitalists for survival instead of farming and being self-sufficient.
Yes & they said they were lifting them from poverty, I'd sooner live off the land "subsisting". Just a way for elitist pigs to have dominion over the lives of others.
@Nolan Armstrong Make of it what you will. That period was the last days of feudalism & the first days of capitalism. Also it sounds nothing like communism, I assume you are thinking of Stalinism, a common encouraged error.
@Nolan Armstrong Well, it was the Lord or Duke or Baron or King's land, right? Originally for Englad there existed three estates: The nobility, the church and the peasantry. Then a merchant class rose to power. With that wealth, they could buy power and begin to change laws, which they have been doing ever since. Then, as inventions gave rise to factories, they needed people who came to the city and died in droves.
Sounds like what Marx advocated for in the communist manifesto
@Nolan Armstrong no it doesn't. it sounds like capitalism .
This was a valuable education… Thank you for posting this video. 🙏
this was easily one of the most informative + inspiring things I've ever seen, I've just finished watching it for the 2nd time, and I'm really excited to now get the book, Yanis' references to the late 1700s are a terribly relevant example from recent-ish history, so powerful to think we may be on the brink of undoing the current cloud-shackles -
I'm really grateful to be able to have access to the thoughts of incredible thinkers around history/economics/revolutionary ideas like this, it's really exciting to think we're potentially only one small revolution away from a far more equitable social situation, given how "globalised" the world asserts to being... it really sounds possible that enough people can agree around the world.. that we don't want to be cloud serfs, maybe more that we want to have a share of the profits being sourced from technological growth.
no longer should the risks be socialised with profits privatised, the more people that learn this key human right the better I think. thank you yanis, pls i rly hope that people see the sense in this information..
It’s like many of us know this stuff already because a lot of it is common sense and human behavior but the way he says it is mind blowing.
This is why i love yanis!
Brilliant!
Roger K ποιος είναι έξυπνος άνθρωπος .; 👄👄👄👄👄🍉🍉
Wow such a great speaker
This is so true who will be left as the consumer? This seems especially important now with the rents rising unreasonably. Obviously the now vacant apartments do not equal renters capable of paying the crazy amounts.
Great style & riveting narrative Yanis.
13:00
Edison had 'help' 'inventing' the lightbulb.
Edison's NewYork electric supply was "Direct Current"
DC supply:- exremely localized at a generator in every building & not interconnected with other neighbourhoods.
In fact it was a contemporary of Edison,
**Nikola Tesla**, born in Croatia, who revolutionised power generation using induction & distribution via Alternating Current.
This is essential to understanding what is happening in world today
I love the story he tells about Ethiopia and how he reiterates his previous comments about China before he does this.
the Chinese are good with math. they figure it's much cheaper to build than to destroy.
Every single American should watch this. Simply amazing amount of information in such a short amount of time. If we don't stop using the word Socialism like a bad word, we're never going to fix things. And I'm not talking about the kind of socialism that exists in places like Venezuela. It's about taking back some control and power from the bankers and the ultra rich, and giving the people a better standard of living. But they're smart, and they know that socialism would benefit the people and not them, so they have turned it into a scary, horrible idea, and people are voting against their own self-interests because of this fear.
That’s what they want you to believe!! This is dangerous!! They paint utopia and deliver dystopia.
Just go work in a Greek owned cafe for a year or so and your boss will show you how indoctrinated Americans are.
Most '-isms' are bad words. Its great to have a governance model with qualities built by and for the working class, but social-ism has a rich history of dark and scary things all of its own making.
Anything that has been distilled to an ism has begun the process of crystallizing into an island of thought. Good, fully functioning states of thought include useful ideas across isms, not adherence to one's dogmas.
Theres a lot thats been done to control the working class, and a lot that could be done to fix it, but socialism as it will be known is never going to be it.
In America we are already supposed to be a country governed of the people by the people for the people.
It was celebrated across the world, in China, in Russia, but since then theres been a few unneccessary wars, a few assassinations, some choice subterfuge, a handful of traitors and viola the ruling class has largely clawed back its power as best can be expected for modernity.
@@CmdrCorn lol america was never "by the people for the people" It says it in the constitution, only rich white men have power, this is still true. It also stated that slavery was just and natural and that it is an american way of life. 9/10 of every person who had anything to do with writing the constitution owned slaves. "socialism" isn't hardly as scary as a country built on genocide and chattel slavery
standard of living was defined by capitalism.. key is balance. capitalism creats.. socialism distributes.. u need both.. thats why most of the world has or tries to have a mixed economy
Elections cannot be allowed to change economic policy. That is a scary sentence to hear from the finance minister of the most powerful country in Europe. And we still tell ourselves we live in a democracy.
Wow, I've never heard him give this talk before. I didn't know a lot of this information. He does a good job explaining how the system got started. Thanks for the upload :)
Awesome information. Yanis puts it together beautifully.
This man made the world in my head make sense😅, I kept on asking the questions he's now answering but couldn't get answers bcs I was in a wrong course
Also, if anyone is wondering about the book he referenced where the computer organizes the revolution, I am almost positive he is referring to “The Moon is a Harsh Mistress” by Robert A. Heinlien
So happy that the name Bernie Sanders was brought up immediately after this brilliant lecture!!
what he says really resonates with me.
i had to do 10 years (!!) of reading, admittedly randomly and unguided studies, to reach this level of understanding. benefit from this true scholar and educator and do it in less than 2 hours!
Great new insights. Many Thanks to Yannis Varoufakis.
I just saw some interviews with Harry Markopolos.
- My decades long experience:
You’ve got a pretty good chance to get some brain nourishment when clicking the Greece-Button.
Kala,kala and thank you. Positive evolution is possible; our greatest teachings come from examing our mistakes.
Yannis understanding of the modern economics is superb because his knowledge of political/economics history is so deep. It is so sad that only 3.5% of Greeks voted for his party but instead voted for those morons that brought Greece to the 2010 recession
Yanis doesn't understand, (or maybe doesn't accept?)
That to carry out MAJOR projects, requires Capital,
And CAPITAL is just a fancy word for SAVINGS.
The Greeks who usually fund these things have found what many around the globe have found... It is EASIER to bribe politicians, to protect the greedy from their own risky projects, or to fund them, than to risk their own money, then THEY as insiders can be in the right place at the right time, to take advantage of new opportunities...
It's the POLITICS that are corrupt.
Not the idea of Capitalism.
@@wa1-marketing955 you sound indoctrinated and stuck inside the box
Well, people do vote for the government they deserve.
@@wa1-marketing955Noap. Capital is just a fancy word for loans. Dept is the coal of capitalism.
@@peterelios7568exactly! The same is true of the trump and Biden presidency's.
This is a great lecture. I don't get tired of it.
Wow such insightful lecture ❤
Wow.. Just lisnted to this guy I have a more concrete understanding now in our society... Well done...
You have certainly opened my eyes by putting this in context.
Yanis! the BEST Greece treasurer that no one listened to! One of the few people on earth that can say i told you so..... but he doesn't
as i watched this i was for ced to go along with a dialogue in my mind, even the beat, &the voicse modulation.
Eu não percebo engles mas este homem Grego é muito bom para nossa vida no mundo, este homem é inteligente como os Gregos sempre foram, um abraço mano 🙏🙏😎😎
Interesting closing about the future, "what will it be be? Star Trek or The Matrix?" One can add Mad Max as a third alternative.
Don't forget Brave New World and 1984.
@@thesunrisers Strangely enough Mad Max sounds like the best option of those (Not familiar with Brave new world, so it's not in my assessment.) Since that's the only one where you have any semblance of freedom. Star Trek and 1984 are exactly the same with the only difference of the level of retained technology.
It won’t be Star Trek when we can’t figure out how a human will sit in the same chair for 7 months just to be hopeful about reaching Mars.
But if we get there, that will be where we find the dilithium crystals to make hyperspace speeds possible.
And don’t forget about the Walking Dead, Omega Man, Rapture, Tribulation, and ‘Millennial Kingdom’
@@Imjustsayin99 Soylent Green, Logans Run.
I totally agree with everything Yanis was talking about, what was interesting was his take on Obama care being a disaster, which was what I said in a discussion I had before it was put in place...brilliant discussion, thank you! Peace
But still less of a disaster than the healthcare system the day before the law was passed. Thats the problem. It was one of the least bad out of a slew of terrible options that were being considered.
@Nolan Armstrong Glad to hear it. Would you let them know so they will stop trying to kill it.
The same deal could have been made to the medical industry's bypassing the record insurance profits.
@@christiansmith7254 see
The problem is it was a severely compromised half measure. To get a real healthcare system & increase efficiency & outcomes we need full measures. Get rid of insurance companies & get the burden of healthcare off employers.
Yanis is my hero I am from Singapore to thumbs up Yanis
I like this guy, I can't help but to listen again and again because I cannot connect the dots.