10:32 Star Trek: Voyager episode "At a blink of an eye", 'wonderful depiction of historical materialism' 15:06 Marx' greatest contribution to Economics/political economy: labour value theory (commodification of labour) 16:03 Invasion of the body snatchers 17:45 "That economic concept of the labour input as radically different to all other inputs and labour as the only commodity which can never be fully commidified was to me, and still remains to this day, Marx' greatest contribution to our way of conceptualizing the political economy we live in." 18:25 Capital as a social relation between human beings and a force that we must submit to... 19:46 The Matrix as a documentary 21:45 Marx' first insight: the nature of wealth->societal fallacy of thinking that wealth is privately created and then appropriated through taxation by the state->No, wealth is collectively produced and privately appropriated. 22:13 Autonomy is collectively produced 22:37 Social democracy's bogus dilemma between equality and liberty that Marx dismissed 22:51 Capitalism produces an irrational society that restrains everyone's freedom 24:24 The democratic deficit and the diminution of political democratic goods as a success of capitalism 24:41 Bourgeois liberalism wanted to separate the economic from the political sphere. 25:33 Varoufakis' anger with Marx ●26:05 first more mild error (of omission): insufficiently dialectical or reflexive->no serious thought of the impact his theories would have -26:35 using power of Marx' ideas to disabuse others -27:08 the success of Russian revolution as a means to adapt capitalism (incentive for welfare capitalism/social democracy) ●27:55 second error (of commission) 28:02 Marx' truth was to be discovered in the equations of his economic models (false) 28:28 No truth in mathematical models of economics 28:40 theoretically and mathematically impossible to have a theory of value and a theory of growth in the same model (which makes models pointless) 30:58 "It is the indeterminacy of the labour input that makes capitalism a fundamentally unsustainable and contradictory crisis-prone system." 32:35 John Maynard Keynes 33:23 Keynes' discovery: indeterminate system: "we are buggered if we know" 34:15 Keynes' idea: "Capitalism is an indeterminate beast which is perfectly capable of falling down and finding itself absolutely unable to pick itself up through market forces." 35:40 Marx' immanent criticism: I shall accept your assumptions but I shall prove to you that you are failing your own principles 36:28 Marx proving Smith' and Ricardo's failure 36:58 Varoufakis does immanent criticism (general equilibrium model) □38:08 That was Varoufakis' first mistake 38:56 Dominant economists don't care 39:17 Marxist economists also wrongly continue applying their erroneous mathematical approaches □39:36 Second error: Thatcher as a short, great shock Questions: 54:00 In a political sense, what is the purpose of Economics? 56:01 Varoufakis' answers 59:55 Isn't it just a criticism of mathematics in Economics? 1:00:22 Varoufakis' answer

Here is a brilliant exposition of Marxist economics by a man who is now the Finance Minister of Greece. Can anyone imagine an American Secretary of the Treasury who could speak so intelligently about capitalism? No, in the U S A, the Treasury Secretary will invariably be a Wall Street banker, not an economist and certainly not someone who has actually studied Marx.

@denysvlasenko4952

9 жыл бұрын

Steven Yourke Marx's economic ideas proved to be an abysmal failure. Why do you think studying Marx is useful? Maybe just to learn what NOT to do.

@igoronline

9 жыл бұрын

Denys Vlasenko Why don't you watch Richard Wolff's series of videos on Marx? You'll get a better idea of what he did and didn't do, regardless of what you think of him.

@syourke3

9 жыл бұрын

hexatentacle Sorry, I wrote to the wrong person! I meant to address Denys.

@syourke3

9 жыл бұрын

Denys Vlasenko What the Hell do you know about Marx? Not much, obvioiusly! Have you actually read Das Capital? Of course not! It is probably too difficult for you. There are no "Marxist" regimes and never have been any, despite lies and pretences made by certain oppressive regimes to the contrary, i.e., Stalin, Mao, Kim Il Sung and other tyrants. You are really terribly ignorant about Marx - you need to start reading and thinking for yourself. Do not rely on the propaganda that surrounds you.

@denysvlasenko4952

8 жыл бұрын

Steven Yourke "There are no "Marxist" regimes and never have been any, despite lies and pretences made by certain oppressive regimes to the contrary, i.e., Stalin, Mao, Kim Il Sung and other tyrants." What an interesting coincidence. When anyone, anywhere tries to build a society according to Marx plans, it always ends up being a tyranny. Why not even one success? I have a strong suspicion maxists will have to use the "its wasn't real marxism!!!" excuse for centuries to come, since it will continue to fail whenever tried :)

This guy is good.... very good... I am impressed. I can see why he was chosen for minister and more so why he was required to step away in case of a deal! He has very "inconvenient" truths...

@Teralek

8 жыл бұрын

***** meaningless unless you specify what a communist is for you. That has become a swear word and a debate ending word. I agree with 99% of what he said. He is intellectually honest, quite smart and not just a "ranting communist". Very realist about the world, knowledgeable and by no means a supporter of the old soviet regime. He is a true competent politician in the left spectrum. Not many around unfortunately. I think Keynes was a genius. One of the best economists of all times. He also has him in high regard. I think most people are economic illiterates. I think most neo liberal economists live in a fantasy world that is going to explode any time in the future if we continue to behave blindly and in denial. Varoufakis speaks in a refreshing logical language that all can understand. A mixed economy, like in Scandinavian countries, with global organizations in control of global problems (e.g. global warming) is what I would like to see in the world.

@Lebelekani

8 жыл бұрын

***** Not socialism??

"... To challenge their own logic and not their assumptions. Because nothing upsets the dominant paradigm more than to say 'I shall accept your assumptions, but I shall prove to you that you are failing your own principles.'" The spectacular methodology of immanent criticism.

Yianis Varoufakis, a great orator, with thought provoking ideas, academic background and confidence to enter into political discussions which can potentially give birth to a new economic paradigm. I admire his vision and intentions. I will follow closely.

Vive Vafourakis! Greetings from France.

"Nothing succeeds in reproducing itself as a sense of privilege founded on a false sense of entitlement." Yanis Varoufakis

Such eloquence, clarity and depth.

@guydecervens

9 жыл бұрын

Could you give an example of something 'deep' that he said please?

@a.desousa

9 жыл бұрын

guydecervens "Economics is bad to your mental health and intelectum, rather you are on the right or on the left."

@guydecervens

9 жыл бұрын

***** I'm afraid that is a meaningless statement -the sort of double-speak that Marxists use to cover their economic failures. The economic policy of the left is to have a greater amount of state interference in the free market. The right favours the free market and low taxes. The left wants high taxes to pay for a larger public sector. Those are just some examples of the practicalities and black and white contrast between right and left economics. He's just fudging and creating a smokescreen by obfuscating such basics of political science.

@a.desousa

9 жыл бұрын

guydecervens Funny he actually addresses that dicotomy and how the left has been wrongly misguided by parts of Marx's writings due to that. But thank you for explaining your greatest deep knowledge on the practicalities of black and white contrasts between left and right. The problem of your reasoning (as a liberal) is that we (post-structuralists, including maybe Yanis), a bit ironically, do not assume the existance of binary oppositions. Not everything is black and white anymore. Quite complex and really deep stuff (on the philosophical level also) he is speaking about actually. You should give it a try and listen.

@guydecervens

9 жыл бұрын

***** He has signaled his intention to increase spending on public services and increase taxes on the private sector. This is leftist austerity and will lead to greater debt and a lower GDP. That's basic economics and the reason Marxism has failed everywhere it has been tried. His a la carte 'Marxist Capitalism' is not a policy but rather an expediency and as such is typical of all historically failing attempts to institute Marxism. All he has learned from the past is to not wait until Marxist economics start to fail before he grabs at Capitalist policies to try and save the sinking ship.

Brilliant mind with equally brilliant way of thinking. I appreciate every sentence, thanks.

V is for Varoufakis ! 'Workers of the world unite , you have nothing to lose except your chains!.' Solidarity comrade(s) from the U.K.

Excellent speach including essential exlanations for us who are not experts in economics!! it was very helpful in order to understand Syrizas Government's tactics and next mooves. I believe it is based on solid foundations. Regarding Varoufakis, it seems that he is not only an expert in economics but he combines knowledge about human nature and respect to human rights.

Brilliant and outstanding lecture which characterize the new paradigm on which social politics would lead for the next decades. I believe this is what we need!

i really appreciated Yanis's perspective: how, why, what, we are faced with and what we need to do...to get there ~ great comments ~ i understand Yanis perspective, which many of us share here. The Struggle between universal hegemony and universal freedom and justice won't be lost here.

What a beautiful man! Give love a chance! Here's to you Yanis - your passion breaks my heart!

Yanis is as always, both erudite and entertaining.

Wow. What comments here below. By luck I live in a country where saying "Marx" is no crime, just like saying any other philosopher's name.

@vasudevchakravarti4310

8 жыл бұрын

+AnnaFragolari2 True, it is same for me in India. The first time I knew that it was such an insult to be known as communist in America I was shocked.

@piyushpandey5978

3 жыл бұрын

@@vasudevchakravarti4310 From future, we are fucked 😂😂😂

Yanis Varoufakis is absolutely BRILLIANT! He tells it like it is!

Yanis, will never give up, until he has his Democratic Europe .! And he IS the man to make it happen lets do it Europeans !!✌️

That guy is simply and utterly AMAZING

Great man, great ideas. I wish him all the best.

What Trotsky once said ,"To be in the right during a weakened state of revolutionary struggle , does not have any affective function." These days, Marxist ideas do not have any impact on the bourgeois profs . that does not change the fact that Marxism is right.

Brilliant analysis Varoufakis, thanks for giving us this insight!

Quoting Voyager? ahaha I love this guy already.

@LuisManuelLealDias

9 жыл бұрын

guydecervens you're paranoid, delusional and ignorant. Paranoid because everyone sees lessons in pop culture, but perhaps only the honest intelligent people admit it. Delusional because you see a Hitler in his words, when there's nothing here to suggest such a thing. Ignorant, and willingly so, because you cling to the idea that Yanis believes in the marxist economic model, whereas in this *VERY TALK*, he dismisses it and tells us exactly why it is all wrong. Regarding your hitlerian quote, well he had a moustache too, I guess all people who have moustaches are hitlerites too then? Fucking hell. The distaste for capitalism was widespread in the 30s, and there was bloody good reason for it, it was seen as the major force behind the world collapse in 1929.

@guydecervens

9 жыл бұрын

I'm paranoid because I don't "see lessons in pop culture"? Delusional because I think it was Hitler who said what Hitler said? And ignorant because I think a self-identified Marxist is a Marxist? You're a leftist aren't you? So much stupid can only come from a leftist.

@LuisManuelLealDias

9 жыл бұрын

guydecervens No I'm not a leftist, so I can add "bad logician" to my list of characteristics of your persona. You infer with insufficient data. You are terrible with words. I didn't say Hitler didn't say what he did, can you even read? You also didn't say that Yanis is a "self-identified marxist", which he clearly is, you said that he believes in "marxist economic model", which also clearly he DOES NOT. So what more proof you want that you are an imbecile? I can't provide more without you shooting more on your feet so please indulge me and add more fire to your own feet. I feel like being entertained.

@guydecervens

9 жыл бұрын

Luis Dias So he is a Marxist who doesn't support Marxist economic policies? How does that work?

@LuisManuelLealDias

9 жыл бұрын

guydecervens Listen to what he's saying and you'll learn! The amazing things one discovers by actually listening to what people are saying instead of making shit up on their behalf, you won't even believe.

Phenomenal lecture, and very educational.

I love this man's logic.

He certainly commands a powerful intellect and presents a very deep understanding of the present crisis. I hope he runs circles around these tired old EU neoliberals

29:57 Actually volume 2 and 3 were finished off by Engles, Marx only managed to complete the first one(he died whilst writing) in full so I don't think he did in fact 'realise' that as wages rise, the prices may rise as well. So Engels realised this, not Marx.

Brilliant man brilliant mind. Bravo

Interesting talk. lots of valid points. All I would say is "simplify the message". Not many will sit through the whole vid (I did, plus others, but many want soundbites, sadly.)

Does anyone know where one can find a Marx quote regarding the capitalism irrational restrain for the both the proletariat and bourgeoisie as Yanis mention on min 22:52 ?

Yanis Varoufakis THANK YOU for your very accurate and insightful analysis of Marxism, and I want to comment on Marx's omission regarding the Soviet Union's behavior while doing their particular type of "communism", is that Marx never contemplated such a backward society living in Feudalism to try to apply a Communist system he thought would evolve naturally from Capitalism, as Britain was then. The problems with the Soviet Union, North Korea, China and many others were that they tried to "jump" the order of evolution and were more of an "intellectual" application by their leaders, than a true demand by the bases of society ready to make the jump to a new more evolved socio-economic order. YOU JUST CAN'T LEGISLATE EVOLUTION and expect to be successful. In that regard I believe China's Den Xiao Ping understood this conundrum (he studied and lived in France before he joined Mao's march) and after being put in prison by the Mao's fanatics for a while during the "cultural revolution", when Mao died "the gang of four" including Mao's wife, were put in prison where they died, it was then when Den Xiao Pin returned China to the correct step in evolution to proceed, I believe, to a prosperous Communist future AFTER the period of capitalism they are having to go through, is done and the masses ask for it. This is of course my speculation about what was in Den's mind, and today's Chinese leadership, but time will tell.

Yanis Varoufakis: Confessions of an Erratic Marxist /// 14th May 2013 YANIS VAROUFAKIS Political economist and a professor at the University of Texas, Austin. After training in mathematics and statistics, Varoufakis received his economics doctorate in 1987 at the University of Essex. Before that he has allready began teaching economics and econometrics at the University of Essex and the University of East Anglia. From 1989 until 2000 he taught as Senior Lecturer in Economics at the Department of Economics of the University of Sydney. In 2000 he moved to his native Greece where he was Professor of Economic Theory at the University of Athens. He is an active participant in the current debates on the global and European crisis and the author of The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy (2011). www.subversivefestival.com/for... Read Varoufakis's paper based on this keynote speech and expanded in some significant ways: yanisvaroufakis.eu/2013/12/10/... You can find other recordings of talks by Varoufakis from the 2013 Zagreb visit here: book promotion "The Global Minotaur: America, Europe and the Future of the Global Economy": www.youtube.com/watch?v=MEUWx... interview "All the good stuff that cannot be measured": www.youtube.com/watch?v=FqZ2e... roundtable "Utopia of the EU" with Susan George and Franco Beradi Bifo: kzread.info/dash/bejne/jHWNrZucfcy5kqg.html Category Non-profits & Activism Licence Creative Commons Attribution licence (reuse allowed) Remix this video Source videos View attributions

Patrick Stewart did play Lenin in the BBC mini-series Fall of the Eagles and yes he was excellent in the role.

'Why send out the Wehrmacht when you can have monthly visits from the troyka'?@45.01 Ouch.

Who's the native english speaker in red jumper, face is familiar, anybody know? 1:28:00

Greeks-the Light of the World. 🌎

what about capital's tendency to eliminate labour as a factor of production, thus gradually undermining the source of value and generalising human misery?

qualcuno faccia la trascrizione, grazie

Beautiful! You need a mind to understand though!

Who is he talking about at 45:52? Mr who? The person who criticized the IMF.

This guy is real GOOD!!!!!!!!!!!!!!!!!!!!!!!!!!!!

46:20 Who is this person who admonished the IMF? I can't make out the name.

@akhalif68

4 жыл бұрын

I think its - Olli Rehn (Finnish politician serving as Governor of the Bank of Finland since 2018)

I like his taste in Science Fiction films

@zetetick395

5 жыл бұрын

He also once said That he enjoyed _The Star Fraction_ by Ken MacCleod - which is a FANTASTIC sci-fi masterpiece, one of my favourites in years!

All laborers are potential entrepreneurs and business owners. Most business owners were laborers and some still do labor after they are owners. The lack of integrity is the problem in any activity.

It was so cringey watching our completely unqualified drug snorting UK finance minster meet Yanis. It must be a world first having a finance minster who isn't a banker and/or unqualified.

I'll admit that I may not understand things very well, but here would be my question: Isn't it the case that Greece joined the EU having very little, borrowed a ton in terms of Euros from others that had them, and now owes a crapload that the nation's productivity can't pay back ? If that's the case, the articulation of "Greece is in the clutches of a currency that is strangling it" would seem to be in avoidance of accountability. I'm aware this is only my modest comprehension - and I'm certainly open to being corrected ...

@xxFortunadoxx

9 жыл бұрын

***** Of the 360 billion euros Greece owes, around 82 billion is Greek debt; that is to say that 82 billion came from Greek banking institutions. The largest single contributor is the European Union at 111 billion. It's not an avoidance of accountability if you have, on one side, a past administration which racked up a truly astounding amount of debt, and on the other side, the entire eurozone which is demanding the new Greek administration institute austerity measures which will certainly cripple the country. Germany is effectively cutting off any economic aid to the country if they don't implement strict austerity measures, yet those austerity measures are the precise opposite platform that the Syriza administration was elected on. Austerity measures during recessions *never* work. When the economy is depressed, you need to *increase* spending, not decrease it. Decreasing spending to cut deficits will only damage the economy by raising unemployment, (government jobs have to be paid somehow) lower economic growth, (things aren't being repaired/built) and most importantly less confidence in the dollar because during recessions; people hoard money, they don't invest it or buy things. Because they aren't investing or buying, stock prices fall and businesses don't expand their enterprises and in many cases have to lay off workers to meet overhead. This results in further lower economic activity and unemployment, just from the private sector rather than the public sector. Debt does not lead to a recession. Everyone in the U.S. is worried over the fact that our total debt is now slightly over our GDP. This means nothing. Japan's debt-to-GDP ratio is the highest in the world at 240% of their GDP. Racking up debt to fix a troubled economy is a short term wound to save yourself from a long term fatal injury. This is not the last time a European country will fall into economic crisis and it everything to do with the EU. If Europe wants to become like the United States, then it has to order itself as a single sovereign country, with the other countries as local governments/municipalities. The only way an organization like the EU is going to work efficiently is if there is one method of economic spending at work instead of a dozen. There is no way Germany, France, and Britain would do it; especially after this Greece debacle, but it's what is needed.

@mattsamudio

9 жыл бұрын

Dialectical Materialism where I'm still not connecting the dots this way is, in your own words, where "a past administration which racked up a truly astounding amount of debt" ... isn't this where accountability needs to happen ? Why did the people allow their past administration to borrow astounding levels of money in their name ? Well, they did ... and they're not to be held accountable ? If I go out and borrow a crap-ton of money, overwhelming my personal ability to pay it back, I have to pay some consequences eerily similar to what "austerity" seems to mean - i.e. I may very well find myself in the "poor house", or at the very least a much lower standard of living than I would like. I have a difficult time understanding why a nation wouldn't have to live up to the same level of accountability. I don't think there'd be any necessity of the poor bearing the brunt, either - i.e. it seems to me the "floor" of reasonable standard-of-living could stay roughly the same, and those well-above that "floor" would be the ones to feel austerity the most. Again, just my thoughts on what I've been able to make sense of ...

@xxFortunadoxx

9 жыл бұрын

***** _"Why did the people allow their past administration to borrow astounding levels of money in their name?"_ For the sake of this rhetorical question I'm about to ask, I'm going to assume you're American: In Utah, the U.S. government built the Utah Data Center which is probably the largest data center in the world in 2014. It cost $1.5 billion dollars to make and spans around 1.5 million square yards. Did you know about it when it was being built since 2012? No. The reason no one knew about a $1.5 billion project is because there are dozens if not hundreds of projects just like this categorized as "defense spending." Further, even if you did know about it, what are you going to do? Say no? How does that stop them? The people did speak out against the past administration; by voting them out of office. The fact that it worked is amazing. _"I have to pay some consequences eerily similar to what "austerity" seems to mean - i.e. I may very well find myself in the "poor house", or at the very least a much lower standard of living than I would like."_ Who is _I_ in this hypothetical? Random citizens who didn't spend the money? Just because politicians are voted by the people does not mean that the people control the politician's actions. Also, austerity isn't a punishment and it's not meant to be seen that way by the rest of the Eurozone. It's what they think is the proper solution to keeping Greece afloat while still paying down debt. It's just that it's the exact wrong solution to the problem. _"I have a difficult time understanding why a nation wouldn't have to live up to the same level of accountability. I don't think there'd be any necessity of the poor bearing the brunt, either - i.e. it seems to me the "floor" of reasonable standard-of-living could stay roughly the same, and those well-above that "floor" would be the ones to feel austerity the most."_ Because nations don't operate in the same way as a personal bank account works. Firstly, in the former, there are millions of people in which to distribute money to, each with their own personal sub-accounts. In the latter, there are maybe two or three people who you distribute money to. One person's spending is another person's income, so cutting back on distribution of that money means cutting back on giving others income. The poor and middle class will be the *only* ones to bear the brunt of the policies because they rely on government spending the most. Rich people don't rely upon government housing, subsidized meals, public schools, government jobs, and so on. They can live off their money for a long time. In fact, assuming that inflation doesn't set in, they can actually get richer by using this hardship on middle-class business owners by buying up their businesses and attaining larger market share in whatever market they're in. Rich people never feel economic strife because they don't really need assistance from the government beyond basic infrastructure needs. That's because the government option will necessarily be worse than the private options that they pay a premium for. But they have the money to do it.

@mattsamudio

9 жыл бұрын

Dialectical Materialism "The people did speak out against the past administration; by voting them out of office. The fact that it worked is amazing." ... and yet, there's no assurance or even indication that those voted in to replace them are any different - they're from the same pool of career politicians - they always are. "Who is I in this hypothetical? Random citizens who didn't spend the money? Just because politicians are voted by the people does not mean that the people control the politician's actions." ... and yet, we're supposed to believe in and support the very notion of the government having all this power because its doing our bidding, by virtue of being elected by us ? Which is it ? We can count on the government to represent us by virtue of being elected by us, or we can't and thus can't be held accountable for what the government we elect does ? If its the former, then some form of accountability would seem ethically necessary - if its the latter, then why do we have the government into all this stuff to begin with ? Further, if we were to consider a form of austerity which *would* be ethically coherent, it wouldn't (couldn't) involve the inherent unfairness that we might see in how things currently operate - which is, by the way, as designed by the same people that we're constantly trying to vote out, but never seem to find any alternatives for. But, to the question of the debt itself - I don't think there's any way to get around an over-spending problem without some form of "tightening the belt" - its just seems to me to be a question of where and how.

@xxFortunadoxx

9 жыл бұрын

***** _"and yet, there's no assurance or even indication that those voted in to replace them are any different - they're from the same pool of career politicians - they always are."_ Uh, no. Syriza is *not* just another example of career politicians. They are radical left, and used to be engaged in serious protests of the Eurozone's activities. _"and yet, we're supposed to believe in and support the very notion of the government having all this power because its doing our bidding, by virtue of being elected by us?"_ What it operates in a responsible manner, yes. It just sounds like you're being a contrarian here. Responsible governments create healthy states. Irresponsible governments create unhealthy states. _"Which is it ? We can count on the government to represent us by virtue of being elected by us, or we can't and thus can't be held accountable for what the government we elect does ?"_ I have a hard time believing you don't understand this elementary point. Politicians often lie; this cannot be denied, but the alternative is much, much worse; the state of nature. We live in democracies because they are the safest form of stable government which we need to manage the state. It's as simple as that. _"If its the former, then some form of accountability would seem ethically necessary - if its the latter, then why do we have the government into all this stuff to begin with ?"_ Once again, austerity *doesn't work.* It's been shown numerous times in practice that it doesn't work. This has nothing at all to do with ethics. period. It has to do with fixing a problem. There's no punishment here, no sense of justice. If there's one thing you take away from my post, let it be this point. _"Further, if we were to consider a form of austerity which would be ethically coherent, it wouldn't (couldn't) involve the inherent unfairness that we might see in how things currently operate - which is, by the way, as designed by the same people that we're constantly trying to vote out, but never seem to find any alternatives for."_ Again, has nothing at all to do with ethics. We aren't doling out punishments here by forcing countries to engage in disastrous economic policies. The EU truly believes that austerity will fix Greece's problems. They are wrong. _"But, to the question of the debt itself - I don't think there's any way to get around an over-spending problem without some form of "tightening the belt" - its just seems to me to be a question of where and how."_ I've already explained why this is wrong. I'm starting to think you're just disagreeing with me for the sake of doing so, or your original comment that you posed was just an excuse to start an economics argument with someone. Because you just seem to be disagreeing with me for the sake of doing so, despite the fact that I've explained why Greece's situation is so dire and who is responsible for putting the country in its current crisis, I'm done. There's just nothing more to explain.

We don't have to like it, but Varoufakis is right; a tactical truce with capitalism to save people from its worst excesses in any future collapse is necessary. Next time banks and other capitalist enterprises must start to be brought under democratic control, if not sooner. His confession about the uselessness of mathematics in economic models (not mathematics itself!) was insightful. BTW, I'm with R. Nolan. Why do catastrophism/neo-Malthusian solutions always seem to begin with the poor?

38:57 "This lot now don't give a shit." xD Also, this guy really knows his stuff. Very interesting lecture.

There is one thing I do not get. If the European Central Bank has access to money at negative interest rates, why doesn't it lent it to the State of Portugal (one bleeding situation) such that at least the portuguese tax payers (and taxed-utilities consumers, e.g. H2O and electricity) would not be slaving away exclusively to feed the minotaur of the Portuguese State's constantly mounting debt? Or even to erase the freaking debt so the country could start over?

Yanis will be giving a talk at the NSW State Library on October 23. 6pm-8pm.

I am an erratic Marxist.

"strange are the rituals of emptiness" - over my head mate (31:56)

@meisam14

9 жыл бұрын

It is an eloquent way of describing the analysis of economic models. A useless effort.

Try and be nice to people, avoid eating fat, read a good book every now and then, get some walking in, and try and live together in peace and harmony with people of all creeds and nations

@alexdevcamp

3 жыл бұрын

You misspelled "carbs"

Ok, let start from YOU!!

Selemani Kinyunyu currently Greece's new finance minister - interesting thinking

he worked for valve in 2012

F****** brilliant talk

@MM-qz9bl

7 жыл бұрын

he is a brilliant. Watch him at Ted Talk.

What does he mean by the 'black hole'? I guess in hindsight, now after the crushing of Syriza and the Greek people's vote, he did overestimate the ability of local politicians to stand up to the power of big finance and its tentacles.

Glad to hear that the IMF has woken up to the unsavoury effects of the private bank grab

judge not the man, but his ideas - if you are not doing that, then you must ask yourself a painful question : 'why am I being intellectually dishonest?'

I clicked on this video thinking the speaker would be Bernard Chapin...

I'm surprised that there was no mention of Bitcoin as an alternative currency.

@osdias

9 жыл бұрын

I always wonder what people who jump into a conversation with an insult are afraid of.

@GodOfTheInternets

9 жыл бұрын

osdias It happens when paradigms of the two persons are so far removed from each, the framework of reference so separated, that disagreements are rooted in *tacit* paradigms, on other words, that discussions around one issue cannot be articulated or explicated on platforms like these (only in books or essays) that one resorts to insults or ridicule because he tacitly understand how wrong the person is but has no way of explaining it briefly.

@osdias

9 жыл бұрын

By that you mean that you're so much more intelligent than those you disagree with that you couldn't possibly engage in debating the merits of the disagreement since those you disagree with wouldn't be able to understand your advanced intellect anyway, hence insults are the ONLY logical alternative. It makes sense.

@GodOfTheInternets

9 жыл бұрын

osdias No, can't you read, or are you just having trouble *understanding*? I'm not even talking about me, I'm talking generally. It means that, for example, your support for bitcoins is rooted in a paradigm diametrically opposed to mine, so any meaningful discussion flowing from this would amount to discussing rival paradigms. Having a debate about something so basic can barely be explicated, and insults and ridicule are used as substitute. YOU UNDERSTAND NOW?

@MacLuckyPTP

9 жыл бұрын

GodOfTheInternets You got pawned noob, face it.

It has been found that journalism not given good reports after the experience of Brian O ...... The opinions rain waiting for negativity vs Yenis Varoufakis admiration for his austere attitude, is about understanding the straight before him. Greece had no choice but the way it chose its citizens. Only the Greeks took over their country with the nation to favorable winds, autonomous straight out outside of the game Banking and statutes that have not worked. have their glory and defeat. This makes it clear that a people, one voice and one power unit is Bravo Greece .. good luck .. Se ha comprobado que el periodismo no a dado muy buenos reportajes después de la experiencia de Brian O...... Las opiniones llueven en espera de negatividad vs admiración para Yenis Varoufakis por su actitud austero, se sobre entiende el recto ante El. Grecia no tenía ninguna opción que el camino que escogió sus mismo ciudadanos. Solamente los griegos tomaron las riendas de su país llevando la Nación a vientos favorables, rectos salida autónoma fuera de los juego Bancarios y estatutos que no han dado resultados. tendrán su gloria y su derrota. Esto deja bien claro que un pueblo, una sola voz y unidad es un solo Poder.. Bravo Grecia buena suerte..

It is very interesting how Varoufakis makes people talk democracy is wining just by commenting here . People are interested in their life again !!!

I wished Janis could read and comment his thoughts on this article: How Truly Free Markets Help the Poor mises.org/library/how-truly-free-markets-help-poor

Pode-se ler tradução para português em: redecastorphoto.blogspot.com.br/2015/02/yanis-varoufakis-confissoes-de-um.html

Albert Einstein drops in for a question @1:18 haha

ooooh, that PaRTick Stewart! :) 1:14:10

The Legends Of Greece Are Real Go, Greece, go… Don’t look back, go… You just left behind Medusa’s head. Now hurry up reach Prometheus’ fire, He is still chained on Caucasus Mountains. If you need wise words, go see Socrates, You may find him on top of seven mountains in the island of Cyprus, Out of where he still teaches the nations. From there you are half way to meet Alexander, He suggested - you should meet with Zeus, later. Wait, I hear Aphrodite’s laughter, She sings, “My Love for you Greece is on real fire”. Whom are you kidding - Oracles of Apollo? Look, they are melting down from the sky, One after another finishing the dance of divine, Whispering in a barely audible voice - “From Greece will be seen the paradise”. 2/15/2015

To Assaf Wodeslavsky OK, let start from you!!

Waged Labour today is rapidly being lost to robotic technology and automation. The tragedy being that there is no mechanism providing the income to the now stranded unemployed to enable them to become consumers of the wonderful advances being made by the new technology. The debt, compounded and new debt stands zero chance of ever being paid off with waged labour returns. Period. There are no longer created waged opportunity to the extent that is needed to sate the need of the people for an income. Governing body's increasingly saving taxes from a diminishing tax income to oversee unbelievable austerity will cause a total collapse. We need honest injection of "created" income for the masses not created debt based QE to excite a system that will only make 6% population richer and NOT provide anything like enough jobs through a puny trickle down effect. The trick being to sustain the perception of value.

I like his style, although I don't agree with him politically. He looks alive.

Okay, so it is clear to me now that Greece is about to leave the Euro. So long

1:11:45 '... breathing space within the first 100 days of Syriza government ...' in other words, they are considering taking money from the IMF to finance the grexit

Nice jacket...

food 4 thoughts

Hook 'em

GREECE JUST WENT FROM EXTREMELY BAD TO WORSE

Yanis. Please study demography and Malthus. I think you will find all the answers there.

Yanis Varoufakis mentions important things but there are no ways to achieve his dream; rather it will turn into a nightmare. I much rather live in a capitalist Matrix than a communist one.

Did you (YV) ever run a mathematical model on the basis people were free from a threat of violence to buy government 'services'? Seems he does value human life over this 'debt' ....that was underwritten by ...... humans' tax.

!!!

I find the presentation of the professor very interesting, especially when it came to the critique of Marx. I had lived under communist rule and I am very familiar with their slogan: "From each according to his ability to each according to his needs." This sounds good on paper but it is a very ambiguous idea. For who determines what's one's ability and what's his need. Suppose one is very smart and industrious, works hard and he has a car, a house and other things he "needs". His neighbor however is "lazy", doesn't like to work and pretends that his ability is less than what he is capable of doing. But he also "needs" a house, a car, etc. Who will approve what he "needs"? The other issue is that by nature we all tend to do as little as possible to get what we need. What would be the incentive to work harder to produce surplus? So therefore communism is a utopia and Marx had a flaw in his theory about it.

@Oners82

6 жыл бұрын

youcanfoolmeonce "I had lived under communist rule" No you haven't, Communism has never existed. You may have lived in a country with a Communist party but the system you were living under would have been authoritarian socialism which has got NOTHING to do with Communism. "What would be the incentive to work harder to produce surplus?" Because when workers own the means of production it is in your own interest to be productive. "His neighbor however is "lazy", doesn't like to work and pretends that his ability is less than what he is capable of doing. But he also "needs" a house, a car, etc. Who will approve what he "needs"? The other issue is that by nature we all tend to do as little as possible to get what we need... So therefore communism is a utopia and Marx had a flaw in his theory about it." You have clearly never read Marx so for you to say that he had a flawed theory when you know nothing about it is rather amusing. Marx addresses these issues at length and his theories are far more realistic than your simplistic notion that everybody is lazy and does the minimum. I would suggest you educate yourself in at least the basics instead of trying to critique Marxism from a position of ignorance because then you won't sound so foolish.

27:00 Marx's commission fallacy

Confessions of an Erratic Cameraman

A fascinating lecture. I find myself chilled by the howling set up by the vicious beasts of the right in the comment section, but it is the be expected. Unworkable, short-sighted free market nihilism is plunging into the abyss caused by its own greed and stupidity. We need more people like this now.

zoom out, THEN rotate the camera! rofl

@liviumateescu5925

7 жыл бұрын

Quite informing and interesting. One tiny observation, though: it was not von Neumann, it was Edward Teller.

We must help the capitalist class, because the working class need time? Bullshit, workers should not be concern by well being of the capitalist class.

Slightly off-topic, but he looks like Lord Voldemort with a nose.

@1schwererziehbar1

9 жыл бұрын

Exactly my thoughts.

THIS GUY IS NO BETTER THAN LEON TROTSKY

omg

I'm making a comment BEFORE listening to Yanis.This is the second collapse of Greece in the last 100 (?) years. is it endemic or what that this country doesnt manage to pay for its existence? is the fact that the expectations and leaving standards are too high? what is their economic potential? while visiting greece, I didn't see anything but rocks, beaches, restaurants and olive oil trees (which is good!).Sorry, no offence! it is simply a point of vue

@panagiotisatmatzidis9972

9 жыл бұрын

Germany defaulted 3 times in the last 100 years too. Do you suggest that Germany is endemic too? ;-)

@infiltr80r

9 жыл бұрын

Panagiotis Atmatzidis Germany defaulted due to the ridiculous reparations for the first World War. Was there a war in Greece? Nope, just too many Porsches, beach holidays and people not wanting to pay ANY taxes.

@panagiotisatmatzidis9972

9 жыл бұрын

infiltr80r Are you suggesting that Killing 80 million people, paying just a (very tiny) fraction of the financial damage you did in numerous countries throughout Europe is acceptable, while owning a Porsche and not paying for it... is not? I see. Other then that, you're assumptions are based on popular culture (another word for Myths) which were spread around by the former Greek governments and are not true. Greeks works on average probably twice as much as you and your peers do. But since you're just a nickname on the internet and your arguments are extremely short-sighted anyway, I'll stop the conversation here. Farewell.

@danidana2136

9 жыл бұрын

Panagiotis Atmatzidis I am not suggesting, I am asking straightly! I have absolutely no idea the former government was spreading! stop putting words and thoughts in other people mouth/mind! farewell? good idea!

@infiltr80r

9 жыл бұрын

Panagiotis Atmatzidis You don't know anything about where I'm from. Greeks are highly inefficient workers by most metrics and it's reflected in the economy. Greeks elected their politicians and therefore are equally liable for every decision they made. Oh yeah, we helped Greece which was quite unpopular as a decision. So are you saying that 98%+ of people paid all taxes in Greece? Because that's what people in other countries did. You don't know anything about how or why the second World War started. Blame your dear neighbors the Serbians for it. Germany paid dearly for the war, Greeks will also have to pay in the future for the upcoming default. I see Turkey waving at you!

Se seems to be both a marxist and a libertarian

@afaultytoaster

9 жыл бұрын

"wealth is collectively produce and privately appropriated" 22:00 doesn't sound very libertarian to me!

@SmokeRingsPipeDreams

9 жыл бұрын

That's impossible. Libertarianism is the exact opposite Marxism.

@Lucian86

9 жыл бұрын

afaultytoaster Well, he defines himself like that

@Ruairitrick

9 жыл бұрын

Marx was for the abolition of the state and Libertarianism comes from the leftist tradition. The only difference between Marxists and Libertarians is what to do after the state is gone, work together or use it as an opportunity to pursue more wealth.

@SmokeRingsPipeDreams

9 жыл бұрын

Ruairitrick No it doesn't.

To Daniel Lopes. Of course there is a winner of an argument. It is also a conversation of ideas. I looked around but don't find the connection of the US and your debt. If it is true, than why does Germany not affected? Do you realize America pays for so much to support the world? One more question: why is it OK for you to repeatedly steal other European nations money? I know the answer but let's see what you provide as a weak excuse.

Godspeed. I think he gets the good and bad points of Marx almost exactly backwards but he seems to be the sanest man in the European union right now...

39:05

He is a trojan horse for the neoliberals, lol

_"Economics is no exact science."_ 'Financial Alchemy', George Soros.

Good idea! I 'm going to play with your toysthou':Trojan horse is ok, you grown up (but imature)? Get a life!

He lost me at Voyager.

@MrTaxiRob

3 жыл бұрын

Just kidding, he is very good at analogy.