Something remarkable happened this August: How the pandemic sped up the passage to postcapitalism
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- Опубликовано: 4 окт 2024
- Lannan Institute virtual talk, Thursday 13th August 2020. In conversation with Daniel Denvir on "Something remarkable happened in the summer of 2020: How the pandemic has sped up the passage to postcapitalism" -
conversation starts at 05:49
The hero we needed
Blessing upon you, oh great time saver
Maksim Bronsky Thank you!
Thanks mate!
Gracias mi amigo
Yanis is a breath of fresh air - common sense will win out.
Common sense doesn’t have a real good track record at this point.
@Alex McAuliff My point is - we all have it. That's why everyone is frustrated, because their Common Sense is telling them things are out of control. All that is needed for human unity on the environmental, social and economic issues facing us, is a Common Message, Globally understood and can support change Locally as best fits the local issue. It starts with us. We cannot feel empowered to change the system unless we can see a path. An economic shift from Corporate enterprise to Human enterprise is the only solution. What that looks like will vary from country to county and town to town. (That's culture) The current divisiveness at all levels of society is the chronic barrier to achieving the level of human unity required, to overcome what we are facing. To me, Common Sense - as a Movement for National and Global Financial Policy Reform - is something tangible. A base for a global call for locally led solutions. Universal Consciousness as a term can sound too lofty and too great a spiritual leap for many of the minds we are trying to change, but Common Sense is both a common term and an accepted truth to all humans.
I just hope common sense is as common as we all hope it is.
Common sense is anything but common...
Just look at the US. The middle class is rapidly disappearing, yet they keep voting for the same policies each and every election. They should be marching on Washington, but they're too busy fighting among themselves.
@@BrickworksDK the use of media and the economic system to control people's perceptions of reality is very effective
I am in awe of the courage and genius of Yanis. Thank you for all you are doing.
Extremely interesting, educating and terrifying. Oligarchy with elections. What a brilliant, yet horrifying description of our current system.
Election always = Oligarchy. If you wanna see oligarchy takes root, election is the best tool. Sortition is democracy, election is the opposite of democracy.
Voting for the visible government never changes the INVISIBLE government.
"They want socialism for the rich and rugged individualism for the poor" - Martin Luther king jr.
They?
The super rich who own and control everything. They use neo liberalism to give themselves advantageous tax rates and suck up all the money from the working and middle class. Then they use socialism to enrich themselves if anything ever goes wrong. It's a system of neo-feudalism.
@@scartissuefilms depends on what you mean by advantageous tax rate, Corporations usually favor High tax rates because it kills any potential competition, allowing them to corner markets and indulge in unrestrained monopoly, sure they pay more but in the long run is worth it when you can quadruple your profits.
@@toungewizzard6994 The wealthy. See: ruclips.net/video/qcHlNKLQBIM/видео.html
As has been said, donate to the poor and you're a saint. Ask why they are poor and you are a Socialist or Communist.
@@AlessandroTheCynical Tell that to Amazon who's paid ZERO in taxes.
The deep insight from this man exemplifies what it means to be genius.
Bluenami But it’s killing him! He is ageing in pain. 💓Love to Yanis.
only equaled by: ruclips.net/video/qcHlNKLQBIM/видео.html
I just love this man, Yanis, you are brilliant.
Thank you Yanis & Daniel
Suddenly, “...everyone’s a partner in the corporation to which they contribute their labor”...I have been dreaming of this at every place I’ve worked. Let’s do it.
Thanks for being there, Yanis. Reassuring, that the revolution is led by a wise,courageous, (as you were talking about all these hard truths nobody is talking about) and experienced man.
Genius... loved every minute. Lived in Greece for a year in '94-'95. There's a lot to learn there.
There's also a lot to learn here, on my screen and from my speakers 😁
When it comes down to the wire, the real heroes are not the government, or the rich, but the working class.
How do you figure that? It's the stupid working class that requires all these videos being made for them and still they'll screw up the vote.
@ Because without the cashiers, the deliverymen, the waiters, the cleaners, and the teachers etc... risking their lives during the height of the pandemic, the whole society would have grounded to halt.
@ Oh, you are opening a whole can of debate that is simply not worth talking about online.
@ I can tell you but it will require the overhaul of the current system in USA, cause right now it is very much messed up.
@@ElBandito We were talking about the current system.
Beautifully and clearly delivered, extremely lucid and informative, engaging even to a layman like me☺️🕊💐thank you kindly
I've listened to Yanis on the invasion of Ukraine and on economic topics over the last week for about 3 hours worth of listening time and it has been entertaining, enlightening, and enjoyable. A great man of peace, intelligence, and real caring for sure. Pretty cool guy too
Thank you Yanis for giving me hope in a time i as starting to lose it. And i learn so much form you all the time and other times i just fell happy and not so alone to ear ideas people here call me crasy for speaking them. we shall overcome. May we find always strength in the fight.
I used to be my friends common sense department, seems so many smart people have little common sense - you do I am grateful to you and your words- and the opening of discussion I can keep up with. And want to think with
I think this disconnect started many years ago, I heard a real estate mogul claiming seriously several years ago that he doesn't believe in global warming because it isn't reflected in the insurance prices of his condominiums on the Florida coastline. The fact that he wasn't lynched in mid lecture amazed me even back then.
Love your mind and heart ! You nail it down- we cannot overestimate humanity- how many of us understand what is happening to them ?
There are simpler more universal solutions.
Unfortunately Greed got in the way!
Excellent discussion!! Thank you!
I've been listening to him for a couple of years and find his commentary very interesting and mostly spot on . We need to look to our communities to combine our efforts in sustainability and co-op our resources and concentrate on building and strength ing our communities ! From the bottom up ! Capturing carbon at every turn and rethinking our priorities ! And strengthening our relationships to those in our communities !
Dude needs to go on Joe Rogan.
pls share this comment... joe rogan pls make a podcast
Centrist Rogan doesn't care about social change now, he made his multi-millions. More likely he will have Ben Shapiro on a couple of more times.
@@mirsad96 Exactly.
Nah, no UFO’s, ancient civilizations, or drug promotion.
Yeghods they could go beyond 3 hours..
Yanis, a lot of the companies on the S&P have a worldwide presence, they don't depend 100% on the domestic US market. So that could explain the logic. These companies are doing well in the emergent markets of India, Brasil, China and South East Asia. Of course american workers are getting shafted, I agree with that. It's more like we are living in border-less world were corporations are the new countries. Some corporations actually are bigger than the GDP of small countries. This was predicted by visionaries and sci-fi writers a long time ago.
True. Good commentary but still it is easy to argue that there was no way of being optimistic about the way the world market developed. Goods and services were not traded as usual because of the pandemic. Also, many economies in Asia, like China for example made severe lockdowns. Around the world many businesses closed forever, many others were not allowed to open during the lockdowns and therefore many people lost their jobs and consumer spending was reduced. Both in a national and international scale this artificial increase in the markets can only be explained (I think) with Varoufakis' hypothesis.
I wish Yanis was running for prime minister here in England. He is someone I could vote for. This man has his finger on the pulse of everything that is going on.
Always bet on stupid!
i think you do have a branch of Diem25 in UK, maybe look for that ;)
Within 6 months the UK press would have you believing that he's a Satanic communist anti-semite.
@@Camcolito quite true ,....
@@tonysmith5812 Sadly so mate.
Good work, I’m so glad ya put this up on RUclips now.
Great discussion! Yanis never fails to be a eloquent and enlightening speaker, and a creative advocate of economic reform.
The events of this summer of 2020 aren't unique in respect to the decoupling of finance and the real economy. That happened before the 2008 meltdown, and resumed after it and got considerably worse. Now we have the world's billionaires and centi-millionaires and then we have everyone else. In the pandemic more in the middle and bottom are just becoming more clearly impoverished while the billionaires are getting dramatically richer. That simply follows the internal logic of neoliberal economics. And predictably it will end in more chaos and collapse.
NotAgain?y
Well, at least with the nice weather in Greece, you can grow any food that you can eat. lucky you.
"No one expects these companies to make a profit in the near future"
Meanwhile, the largest international companies post record profits mid-pandemic.
This happens when the government gives away billions of dollars while not rising taxes on those companies profits.
@@joshusavage5100 e.g. Amazon, arguably the company MOST benefitting from Covid on the ENTIRE PLANET. Taxes paid: ZERO.
@@brianmi40 they paid their taxes throughout the year. What that zero means is that they paid the right amount throughout the year. When you get money back that means you paid to much throughout the year, when you need to pay the government that means you didn't pay enough.
@@joshusavage5100 Bullshit.
A. Add the three bumbers below, and see they were net negative for the three years 2017, 18, 19:
“Amazon’s latest filing says that the company’s U.S. income before taxes in 2017, 2018, and 2019 were, respectively, $5.6 billion, about $11.2 billion, and close to $13.3 billion.”
“Amazon estimated a federal income tax bill of negative $137 million in 2017 and negative $129 million in 2018. That could be read as Amazon expecting refunds for those amounts, and not paying federal taxes those years, Gardner said.”
“For 2019, Amazon estimated owing $162 million in income tax to the federal U.S. government.”
B. So many Republicans are against “Socialism”, but what that amounts to is Socialism for the RICH without question. NO company EVER, earning Billions like that should be able to avoid taxes.
C. Even 2019, at a tax rate of 1.2% is UTTER BULLSHIT.
To be clear, Amazon didn’t do anything wrong, the point is the fucked up tax laws that favor the rich in this country.
www.politifact.com/article/2020/feb/08/fact-checking-common-democratic-talking-point-abou/
I do like how the present situation is explained. Even though I don’t perceive myself as Marxist it is very clear that what happened
with the evolution of capitalism has created a désastre for workers. It’s many many factors that responsible for the present situation
but the majority of people don’t have the time or the ability to look at all those facets and take side , which end up in polarisation
and the excess of mouvements who are dishonest. in their arguments, and believe that chaos is going to benefit them.....
An excellent point
Chaos and confusion amongst the general public keeps the truth about the Oligarchs hidden, sadly 😩
This is brilliant. I have finally understood the rationale behind the Pandemic amidst all the weird and wonderful conspiracy theories out there. Why does this video not have millions of views? Thank you!
Yanis Varoufakis is speaking truth as always. 💪
Just fled from Noam Chomsky awful interview and landed here. Clarity truth and wisdom. Thanks all.
Chomsky is more irrelevant with each passing minute.
Bet Varoufakis is an awesome prof.
Super interesting
Absolutely well done. 👏
I’m not feeling optimistic about the future of humankind.
Me too, how sad and scary it all is. If I could apologize for humans I would. There's enough for everyone.
Mankind will survive, western civilization though, im not so sure of.
Short Humanity, got it
Humankind is about to extinguish itself, because it's too stupid collectively to survive. And that isn't a joke.
@@andybaldman Bit extreme don't you think..
The intro was so painfully long I almost lost interest
You can fast forward through it as I did. Some like that house cleaning nonsense: oh we might have technical difficulties... duh!
jmitterii2 I don’t like to miss important details. And I don’t know when those important details will come out
More professional sites have a schedule with exact times for each part of the program. We are all evolving.
No pain no gain !!!!
Humberto Montes Perez waste time then Gain
Great insights--EXCEPT I'm not sure why Varoufakis and others sometimes refer to something as "capitalism" that really isn't. The problem is much better described exactly as Varoufakis states at about 14:30 in the video as "socialism for the very very few". Government and their favorites in the corporate world are profiting at the expense of the rest of us is the problem. This is not capitalism. This is not a free market.
Is the corollary, " [Geld ] Macht Frei?"
So, two things. the microphone is both facing the wrong direction and tilted wrong. It's a side pickup mic. Point it straight up, turn it so the logo faces you, and you're dandy. Second, don't speak directly into the mic without a plosive filter. Your voice can carry enough that the direct pressure isn't needed to use the mic. This will cut down on plosive over-activation. Plosive filters (aka pop filters) can help, but best practice is to speak very slightly past the mic. Since you're a single speaker, you want to use the cardioid profile (heart shaped) on the back of the mic.
He is so right this was a really inspiring and enlightening interview about our current time...
Yanis Varoufakis should be an international lawyer and barrister not an economist. Anybody can be an economist, but he got such great communication skills, only his accent can provoke people.
Bestest Marxian explanation I have seen so far.
I hope professor Wolff expand on this topic .
Hello from California. 3-Sept 2020
The best?
He 8s not a Marxist- he's a capitalist politician. If you want marxism go read the wsws.org
@@jennyfrost1340 For a capitalist politician he sure seems to have no problem advocating for communism.
He is a nationalist. When have you ever heard him say the working class must unite internationally and abolish the nation state system which was created by capitalism via the revolutions of 1848 to allow the free movement of labour and to end war? He never mentions workers of the world uniting. All nationalism is capitalism. He us no socialist. Not even close.
Yowsa, when the average person figures this out there will be revolution
And probably deaths too
Yanis talks about feudalism because he's European. Here in the US feudalism never really ended. In the south we called it sharecropping which probably explains why the former confederacy is where the biggest supporters of "right to work" or right to be exploited and the rush to the bottom is strongest.
If the south had won the war it would be like Mexico today. TN, SC, AL, LA, MS have no minimum wage and GA has $5.15. If not for the federal government superseding, there would be no min wage in the south.
@@bluenami7520 not just that, the North literally paid to bring electricity and highways to the south. This country would still be in the 19th century had they won. Just look how little we've invested in infrastructure since those southern states got control of the Republican party, started cutting taxes on the rich and opposing any kind of government programs. It was government programs which modernized the south to begin with. They're complete reprobates.
@@claudermiller If you really want to get to the nuts and bolts of why the south is so impoverished:
"William A. Albrecht (1888-1974) chairman of the Department of Soils at the University of Missouri, was the foremost authority on the relation of soil fertility to human health and earned four degrees from the University of Illinois at Urbana-Champaign. As emeritus professor of soils at the University of Missouri, he saw a direct link between soil quality, food quality and human health."
Dr. Albrecht noted that 7 out of 10 southerners were rejected for military service in the first world war while 7 out of 10 were accepted from the midwest and it had everything to do with the condition of the soil as determined by rainfall. Places with 20-30 inches of annual rainfall have good soil, but the south gets 80 inches which washes the cations away. The midwest supports thundering herds of bison, but the south can barely support scrawny deer because the soil is so exhausted. Southern soil is only fit for cotton, sugarcane, crops high in sugar content while the midwestern soils support protein-rich grasses (grains). The southerners never had a chance and it's good for them that they lost that war or it would truly be like Mexico.
Even today the south leads the country in poverty, crime, teen pregnancy, low wages, low property values, lack of education, highest mortality from heart disease and many others.
@@bluenami7520 inbreeding didn't help and their aristocratic system of governing didn't allow for progress. I lived 7 years in the south. Advancement had nothing to do with ability or expertise. It was based on familial ties. Just because a man can create a successful business doesn't mean his son is the best person to manage it. How many huge corporations were in the south? None. You don't need good soil to build stuff. Most of the factory jobs in the south were exported from the North because wealthy white southerners prevented development because it threatened their families political power in rural cotton producing states. The same way coal companies prevented states like West Virginia from developing. As long as king coal or king cotton were the only industries the people who owned them had a monopoly on power.
@@claudermiller Good soil is required for health and intelligence, which isn't so much of an issue now because food is imported. I find it interesting that the centers of power coincide with fertile ground and anyone unlucky enough to be born elsewhere are exploited.
Great conversation 👍
Absolutely love this discussion, so educational! Wish everyone would listen to this!!
"You can fool people sometimes, but you can't fool people all the time".
Allow me to fix that for you, Mr. Perez: 'You can fool all of the people some of the time, and some of the people all of the time, but you can't fool all of the people all of the time.' ~Abraham Lincoln
@@simonestreeter1518 Allow me to expand that for you Ms. Streeter:" You can fool some people sometimes, but you can´t fool all the people all the time" (Bob Marley) :-)))))
oh you can
Except you. I think you may be the exception
@scoobyclub Are you trying to be funny or racist?
Wow! He explains the situation in such an enlightening way. Its absolutely terrifying! How did we let it get so bad?
with our ignorance and not understanding the big picture
If you are American you were to busy watching football, the Kardashians and other useless celebrity, while your corporate elite took all your power.
Are not the crises a way of transferring money from the majority to a few? isn't that the reason why every time e are in a crises the number of millionaires increases exponentially?
I think everything results in a transfer of money to the elite. Everything we do, everything we buy, probably every hour we work one way or another.
I think @Jordeen is right. But also know that historically turbulence and massive upheavals have broken many elites, while raising others to elite levels. So the elite in power generally hate upheavals of all sorts. They fear years like 2020.
Leaving the 99% out of any chance to bring our ideas to fruition. Unless we give the thieves a large cut of our work and our ideas! What have they done to earn their billions? Nothing!
It is true the elites sometimes lose everything like the rest of us but there are 2 MAJOR differences that average people get screwed by.
1. Where does the money from the losing elites go? Answer: Almost always to other elites. If that money went to normal people we wouldn't have these problems but we socialize the rich while we capitalize the poor.
2 Is an elite truly lost? Often times the answer is no. Trump is a perfect example of someone born rich with connections and those connections bailed him out whenever he declared bankruptcy. The elite class typically helps their own to keep their image as well as make money on loans.
@@nickhall8192 There was a Japanese day trader that starded from a couple of $ and got to millions.Lets not go in to total absolutes this system produced the most upward mobility in history however we can strive for more and should
Yanis: sometime, when you have the chance, please provide a summary of the rise of socialist theory in Europe. The 1848 Socialist uprising in Europe does not form part of US consciousness as neither does the rise of Bismark's corporate socialist state in the subsequent period, because US was involved in the war with Mexico from 1826-1847 seeking to expand the plantation system. The idea of a proletariat was irrelevant under conditions of slavery which continued defacto long after 1865.
"Bismark's corporate socialist state" ..interesting phrase...I hope you do realize that Bismarck as an arch-conservative member of the nobility did not a) create b) a "socialist state", not even a social state. He was forced, through pressure by way of uprisings and strikes to grant certain rights to the new class. This is galaxies away from socialism, rather it was a state with social reforms
@@miropribanic5581 interesting distinction. ⬆️ ⚖
Thank you Sir! You say it perfectly
So true about the layoffs. There have been TWO rounds of layoffs at Raymond James Financial, which used to be proud to have never done so while Tom James was CEO. In fact, in a market downturn prior - badly timed with just having taken on significant debt for expansion, he sought to SELL THE COMPANY rather than do MASSIVE LAYOFFS.
How things have changed.
Now, these two rounds of layoffs, the 2nd one just a month ago, 4 years after the first, have focused on the HIGHEST EARNING EMPLOYEES WITH TENURE. The average tenure of the layoff was 6+ years. More fascinatingly, is that the company was UNDER NO DOWNTURN IN PERFORMANCE when the layoffs occurred both times. To whit:
"Raymond James last announced its earnings data on October 28th, 2020. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.45. The business earned $2.08 billion during the quarter, compared to the consensus estimate of $1.95 billion. Raymond James has generated $7.40 earnings per share over the last year and currently has a price-to-earnings ratio of 15.1"
And so, the purpose of the layoffs was to remove tenured employees who had worked their way up the wage scale ladder and in short order replace them with fresh employees, hungry college graduates coming in at starting wages.
Similarly as Yanis states here, check how the market has responded to the layoffs / earnings picture over the last 30 days for RJF, and remember that stock prices are NOT a reflection of past performance, but FUTURE EXPECTATIONS: stockcharts.com/h-sc/ui?s=rjf
The future for RJF certainly looks bright as it REGULARLY LAYS OFF HIGHER SALARIED EMPLOYEES TO BE REPLACED BY NEWBIES.
As others have said, we need to seek to change the PURPOSE of a company, from focusing on PROFITS FOR SHAREHOLDERS, to being RELIABLE EMPLOYERS OF WORKERS.
Because the PRIOR only benefits the WEALTHY that invest in the stock market, and the latter benefits the WORKING CLASS. Which, by the way, benefitting them and having less "churn" means better steady capital flow into the ECONOMY, which itself benefits the RICH...
Question about what you describe between 1:03:00 and 1:05:00. You expect people to be able to change jobs, apparently. But you expect (I think) the government to force each worker-owned company to give the new employee exactly 1 share, no less no more. And he won't be allowed to sell it, nor will he be allowed to use his $ wage to buy shares from another worker at another (or the same) company. In other words, the only way to own means of production is by working there, and you can only own 1 share, the same as every other worker. You also are forced to share your means of production whenever you hire someone. So, if I build a productive facility all alone with my own hands, the moment I hire a 2nd person, I lose half the facility to them. By law! Alright. Let's overlook whether that is fair or incentivising (I don't think it is either, but nevermind.) I think there is another bigger problem with your construct: I'm a new worker who wants to be employed by company X. I will apply to the current shareholders-workers of X, and ask them to hire me. They will have to vote on it, to decide. If they hire me, they'll be forced to give me exactly 1 share of X. I cannot ask for more shares if I'm an attractive worker who prefers to be paid in shares rather than money, and I cannot forego the 1 share if I am an unattractive worker who wants to make his labor cheaper so as to compete with other, more qualified applicants. Since the current shareholders-workers will have to definitely pay me at least 1 share of X in order to hire me, they will need to know if I'm worth 1 share of X + whatever salary we may negotiate. They would have to compute that by estimating how productive I'm likely to be. If my productivity is expected to be $1000, and my payment is negotiated at $800 + 1 share of X, how do they know if that's a good deal or not? How do they translate 1 share of X to a $ amount that they can add to $800 and compare to $1000, if there is no marketplace for the shares of X?
"who is going to pay that?"
" who has the money? the ones who have the money will pay for it".
it sounds logical.
it's not the logic of those who have...they will not want to pay...they will make the have-nots pay it, e.g. by making them work longer and harder for lower and lower wages
People with money never payed for anything, otherwise they would not be rich.
@Mark Johhson actually, it's happening, has been happening right now, in front of our eyes-....Hong Kong, Belarus, Yellow Vests, Serbia, Venezuela, Brasil, South Africa, Arab Spring, Anti-Corona-manifestations...examples galore
Great conversation, very important discussion. Thank you
Thank you so so much for sharing this. It's providing clarification for all sorts of phenomena I have seen in recent months that I had no good explanation or context for. (I have zero "economics" in my educational background.) By the way, one version of "Piss off" in Dutch is "Loop naar de maan!" (walk to the moon).
PS
I love hearing the cicadas in the background.
Epic lecture. Worth watching again and again. Taking notes too.
Human primatology economical politicks very well discussed indeed.
Back to the medievel ages it is....
As brilliant an analysis as this is I did not hear much about the ecological consequences of such actions.
David Menham socialists aren’t known for caring about the planet or, for that matter, the health of the masses. They’re in the new green movement to gain power. Like a man being a male feminist to sleep with women.
I have a soft spot for Yannis.
Great speaker..former professor.
A good dose of realism. But I feel a lot of his speech is assertions and posturing...many points could be fairly debated.
His prescriptions for the future:
No sharemarkets
No labour markets
No banks
Just a bank accts at the central bank
are quite rigid recommendations that would probably destroy dynamism and incentives...
The current economic problem started by in 1970 when the government did the first bailout. With this we have governments no longer investing into the future but them just throwing money at the present problems.
Really good. Thank you 😊
Yanis, Yanis, Yanis! May you continue to endure......and revolutionize!
I think he's a little late. The new feudalism started when CEOs got more power than the shareholders, quite a while ago.
Well, the shareholders don't mind while the greater fool principle holds out. The actual shareholders: those holding percentages of the company, not some measly silly units of shares. Those people have all the power still. And often continue to appoint CEO's or even themselves to the board as a president or chairmen or even as CEO.
The system has always been this way, making you feel like your unit of shares really gives you some voting power was the gag they played on you and all of us really.
Are the shareholders not still the "lords" gaining money just by having money? They don't work so they are not the serfs.
@@michelle-jn7ul Yes, but they lack control. The financialization of corporate ownership makes it hard to keep up a powerful ownership block that can exercise control. So the majority of shares are held in many smaller amounts, owned by "investers" who don't care much about anything beyond short term gaines, and are easily swayed by propaganda. That leaves CEOs basically acting as princes, whose power is determined by how many people work under them, many of whom are stockholders themselves, and vote to support the CEO.
@@ernststravoblofeld Sorry no thats some BS right there. They are not workers and therefore are not oppressed. You are pretty much arguing that they were stripped of the power to oppress for them self the worker. LMFAO
@@michelle-jn7ul Who said they are oppressed?
Great conversation, thank you!
they are making the markets look ok before it all goes pete tong in simple terms
Read “The new industrial state” note to self on platform
There is a logic to that. It is called: "Buy on bad news."
Yanis has some really great things to say here. The only thing I can’t get with is this calling the US a “failed state”. If you had spent much time with people in any actual failed states that would be a pretty difficult statement to justify.
What exactly is a failed state? Are there currently any that meet you this definition?
Not yet sure if I agree, yet very convinced I have to think about it.
Yanis and Anand Giridharadas are my two shining lights now.
I broadly agree with him. This is a great man. However he is a bit long-winded, which makes it sometimes difficult to listen to him.
Maybe you're too short-attention-spanned.
@@andybaldman Or I simply just don't have the time and or have other priorities.
@@1911olympic Then this isn't the material for you. These ideas are not meant for fast-food thinkers.
@@andybaldman You're being a little harsh.
@@andybaldman You know Andy, you don't know me at all and yet you judge me and, in my opinion, insult me without any provocation. What would interest me is why?
I hope all Americans vote and are given the help they need to cast their votes
Yes, I agree, this unexpected pandemic has helped to reveal the sickness within capitalism. The model has shown its age and needs to be re-engineered for a completely different modern global society.
But it all started with the chinese communist ideology of hiding information.
The issue of disintegration or disconnect between economy and financial institutions governing the economy is very interesting. I think it’s not just in the US but all over. Some 30 percent of working population is out of work. They cannot pay mortgages and rent but still at the end of the month they receive an envelope containing money.
not here where I am.
@@schwartzweisse1011 Not in the US.
WTO rules - Canada , EU agreement
Subsidies and State aid
The CETA provisions for subsidies build upon the WTO Agreement on Subsidies and Countervailing Measures. They require the parties to notify each other every two years in relation to the form, legal basis and amount of certain subsidies that are maintained. Parties are also required to promptly provide information and respond to questions relating to particular instances of government support related to the trade in services where a party requests it. It contains a non-binding consultation mechanism, whereby parties must endeavour to minimise adverse effects of the subsidy on the complaining party’s interests.
5:56 is where they stop the endorsements and get on with it.
6 minutes delay before getting to the conversation.... and much of it could have been put at the end of the interview.
Ur book is translated in tamil by Comrade.S.V.Rajadurai in Tamil Nadu, India
The days of the Algorithm Matrix have accelerated.
bingo. the new system happens to arise (blockchain) just as the old one collapses? the king is dead, long live the king. :P
Agree, I was silly to believe the blockchain propaganda, of course it’s fixed, just like everything else!
Sobering, yet visionary, and not the least bit utopian, just practical solutions that could turn things around in constructive ways -- thank you for explaining the complexities of economics and offering intelligent, informed options that could move the world forward in humanitarian, sustainable ways.
Terminating share markets and the labour markets hardly seems "practical". In addition, giving everyone digital bank accounts by the Central Bank would only work to increase the totalitarian control the Central Banking System has over the population, creating a potentially larger problem and exponentially increase the potential for abuse and exploitation in the future
@@PtolemyXVII thank you for responding to my comment. Admittedly, I only understand elementary aspects of the economic situation. I wonder if these suggestions could be implemented if there were regional democratic systems in place to orchestrate them?
@@CaroleMora22 I think one of the things Yanis pointed out was that we do not live in a truly democratic system because megafirms and megabanks "buy politics out" as he says. Therefore, democracy doesn't really exist on a federal or national level. However, if we examine nations like Switzerland, in which local representatives have a great deal of autonomy in regards to fiscal and social policy, we can see that democracy works best on the local level, and it is my understanding that a "one world solution" with a central bank controlling all our bank accounts would only increase the wealth disparity amongst us.
Instead, I think if we empower local representatives and give them autonomy, then democracy would best represent that particular area because a "one size fits all solution" as Yanis is proposing will not work for everyone.
If every region was its own kind of "city-state" then I think in practice that would demonstrate democracy in the way it was intended in theory.
However, the problem is ultimately with the way our "megabanks" work, however if banks were community owned, this would solve a lot of our economic disparity problems. If banks were more like credit unions (in which people who deposit funds into the bank would automatically own shares in the bank, so that it becomes community owned) this would limit the kind of exploitation that megabanks utilised that lead to 2008-2020.
@@PtolemyXVII you've reminded me of Aristotle's pessimistic views related to democracy. I think he suggested that the city-state would function better as a "polity." Everything you have covered in your response is so helpful to my understanding better the difficulties involved now,, since the current global economic systems are all intertwined within "megabanks." You're suggestions that banks function more like credit unions seems to me to be a good idea. I really appreciate that there are conversations contextualizing the larger situation and that possible solutions are being imagined. Perhaps, in time, needed changes will actually take hold in ways that will bring about constructive transformations in the global economic system. As you and Yanis emphasize though, it seems this cannot happen without more regional participation, as well as more wide-sweeping changes with regard to the way the economy is viewed.
@@CaroleMora22 I'm not entirely certain Aristotle's view of democracy was entirely pessimistic, in that he had an inherent distrust of "majority tyranny" as later echoed by Tocqueville and the founders of the US Constitution. Although his idea of a polity was derivative from Plato, I think the nature of Ancient Rome, in which propaganda was utilised to sway public opinion was the primary reason why Aristotle had a distrust of "public opinion" but not necessarily of "democracy". He was later himself, "voluntarily" exiled out of Athens, due to his ties with Alexander the Great as at the time, public opinion in Athens had an overwhelming distrust of anyone with Macedonian and Egyptian ties.
After the death of Julius Caesar, Augustus (whose primary adviser was L. Calpurnius Piso Pontifex) enforced a strict ban of any Senator from even visiting Egypt, and utilised propaganda to infect the Roman population of an anti-Egyptian agenda. Propaganda was utilised again to paint any emperor negatively who had a proclivity towards the Ancient Egyptian way of life, which was built on a monarchy and a society of free from slavery (as the population in Ancient Egypt were free to negotiate and own property etc) and without the use of coin distribution (as they had a bartering system), which was directly in contrast to Ancient Rome, in which the slave trade was the primary source of income for the nation. Emperors such as Caligula, Domitian and Caracalla were assassinated by the will of the Senate, then later propaganda was utilised to manipulate public opinion and paint them as tyrants. Whereas Caligula (who was highly influenced by Ancient Egyptian philosophy) wanted to move the capital to Alexandria, and Domitian and Caracalla wished to end the slave trade.
As Ancient Romans put to death the emperors who defied the Senate, and also progressive thinkers such as Socrates, and even Jesus, it is evident why Aristotle inherently had a distrust of "public opinion" as he had witnessed the way in which propaganda could be utilised to dismantle and manipulate "democracy". Hence why Yanis calls our current system "an oligarchy with elections".
Aside from the bit of long digression, we can see that this is also relevant in our society. One of the problems with "corporations" is that the founders are forced to focus on the bottom line, and create as much money as possible otherwise they can be sued by the board of directors, activist shareholders etc. This has been alleviated somewhat when the US developed the B-corporation structure, in which founders and the board are shielded from lawsuits when they act in the best interest of the public.
However, this doesn't yet exist for banking systems. Yet, we have seen that when the ownership of the bank moves from shareholders to the members of the community, then they can work in the public's best interest, such as credit unions.
Yanis, you are the master of concision and clarity in a world of fog and delusion.
At the very beginning we hear Yannis hoping to reach a wider audience than he might have in Santa Fe, lets help make that happen. People need to hear what Yannis has to teach us; whatever political leanings you have.
2008 was described to me like I was a child- it was not unlike a poker game , he said , there was the broker - the dealer - and the players who bet against each other - the chips were the people and housing markets - I would love to talk to you about the better movement for a real future - I have been thinking about everything you are taking about - so upsetting - to be so aware - to feel so helpless - I want to be radical
15:00 I call it corporate feudalism.
Bill Gates loves pandemics - There is money to be made from vaccinations that he so desperately wants to control. Then we have those who want to control the world's population - hence the horror propaganda that we have experienced, especially in the Anglo-Saxon countries (USA, GB, Australia and New Zealand) ¯\_(ツ)_/¯
Neoliberalism is evidence that socialism is good. The people who get socialism (bankers, corpoations, the rich) do really, really well
Greetings from Romania Mr. Yanis! My opinion on representative democracy and the Brussels parliament is that this type of continental policy is over! After Brexit, countries like Poland or yours, Greece will give up this type of association inspired by the Eastern Soviet Union, Russia ... On the other hand what is currently happening in Italy encourages me to believe that immediately after the clarification the definitive position of the attributes towards the EU , the peninsulars in the boot will support them by encouraging the Flemings and the Basques to ask the same thing from their parliamentary representatives. But nevertheless Western capitalism will not be easily abolished! Western corporations dominate the Eastern economic market and that is worth a lot to the EU. What I see in the future, however, is related to the phenomenon that changes the pH of the global economy with an annoying speed for the followers of the old system and still alive thanks to non-reimbursable funding from both the EBRD and governments that can afford this luxury ... Digitization phenomenon global will put an end to capitalism as we know it all adults in the second age category ... With its staged bankruptcy, representative democracy will enter a sharp decline, giving way in my opinion to a new form of political and social life that I dare to define as a sociocracy! Sociocracy will no longer need right-wing or left-wing political representatives, but only mediators appointed by the "street" by digital vote made right from the phone on which I am writing this message! What will happen from an economic point of view is to be seen because digital money will change the poles of influence of the global economy in a way that is difficult to predict as long as each global corporation could create its own cryptocurrency and its own blockchain system. However, the big problem remains with us, the Estics, who have to face the routine of the last three decades and open our borders economically in order to facilitate the commercial exchange of goods and more! This requires a Balkan coalition or why not, Estica! As the end of the present message, I would dare to say that global post-capitalism will be a polychrome one thanks to the geostrategic characteristics of the nations that will build it! We will therefore be able to speak in our case of Eastern capitalism ...
Thank you.
the.free.thinker.20@gmail.com
1:17:38 For What Is To Be Done
Great stuff but the preamble is waaaaay to long.
ugh starts at 5:50 after mindless intro instructions and nonsense
Yanis for President!
Of the world
As long as our Politicians are in bed with Wall Street, Lobbyists and Big Finance, we will personally continue to suffer financially… So be damn CAREFUL who you VOTE for!
Love your guest. Thank you. You are okay too but please don't use language like 'a bunch of books'. Books don't come in bunches.
Yanis needs to move his microphone away . It is poping alot
Maybe a better mic or a spit guard but I hear it too.
East india company was already a mega firm long before electromagnetism revolution had came. He got wrong that one.
Its doing what its been planned to do no surprise to those that are awake
I only watched up to 12:30, but the argument he is making is seriously flawed. Under a well-working market, the price of a stock should reflect the integrated present value of the stream of dividends that will be received in the future. The term "present value" here refers to a time discount for payments to be received far into the future. The rate of discount is related to interest rates, and in an environment where interest rates are 0, the traditional formula breaks down and evaluates to infinity. It's not that speculators are expecting bigger dividends, or even that other speculators are expecting that: It's just that the computation of present value is kind of broken.
We come out of thin air Yanis
nice summary of market capitalism - one comment: the struggle is fun when you are as privileged as yiani and it is your hobby; otherwise, it is hard both mentally and physically because it is a matter of survival, but it is the only way to live if you want to keep your soul
Comme quoi tout arrive ... Finally, Yanis joins the propositions of Lordon and Friot . Why do we always need to hit bottom before starting to climb back up ?
It would really help those of us in the US if you [ Yanis & folks] could provide references to places where people can catch up with the current socio-economic situation in the E.U, be it a list of books, podcasts etc. Or a least of authors and political activists in the different E.U countries that one could follow.