Yanis is such a wonderful speaker and thinker... A polymath and humourist....I love listening and learning from this man for all seasons. I believe he still works as a member of the Greek Parliament, and as a a University professor, social and political analyst, writer, broadcaster and more...You are greatly admired and loved Yanis... More power to you...

@kp6215

Жыл бұрын

Amen

@jannichi6431

Жыл бұрын

Just discovered Yanis, thanks for insight👋🙏🤓

Have a math degree and an econ degree. Completely agree with this

As a former university prof, I noted that administrators evaluated my courses less by their content than by their enrollments. The same administrators referred to newly admitted students as "tuitions."

@joeldwest

Жыл бұрын

Crapitalism is dehumanizing

@cheri238

Жыл бұрын

Our colleges have been bought by this system

@bogdiworksV2

3 ай бұрын

That's the case when profits come before ethics and what used to be called "values". It's the same in healthcare.

Yanis, thaks for the truth, we need you to tell the world, very good work

this man is seriously underappreciated. ofc they will not talk to him as he points out how their system is facist. Yet future generations will admire his genius. thank you for being.

Excellent, look up Diem 25 for the politics that he espouses.

Mathematics was not taught to me. I can understand the concepts, but not the mathematics. In a “ finacialized” world, most working class people cannot understand any of it. Not accidental, I’m sure. However, even the stupid ones know that things are bad! I’m grateful for the education that I can glean from those who know more. I do whatever I can to direct the young people to find Yanis, Richard D. Wolff, Dr. Harriet Fraad, David Harvey, Ralph Nader, Chris L. Hedges, Micheal Hedges, Dr.Cornell West, Cara Mattei, Heather Cox Richardson,Noam Chomsky( of course), Robert Reich, Bernie Sanders, and for news Democracy Now, and Christian Amanpour. There are more to mention. There are people who are giving of their time and their academic work for the benefit of the public. All of these generous people have changed my perspective, and have helped me to understand what is actually happening to all of us. Your efforts are not in vain.

@areaunderthecurve9918

Жыл бұрын

Ditch Democracy Now and Amanpour. They have been compromised a long time ago.

@GabrielHellborne

Жыл бұрын

Add Bob Scheer, the Grayzone (just paste into youtube), Matt Taibi, Michael Hudson, Katie Halper and Thom Hartman to this list.

@jannichi6431

Жыл бұрын

Thanks for the new names to research🤓

I am a professor of geophysics with a specialty in modeling and Yanis' issues with economic modeling do, in fact, apply to the "hard sciences." In fact, I am going to share this with my students.

@psikeyhackr6914

Жыл бұрын

Shouldn't the depreciation of durable consumer goods apply to economics. Consumers buy cars and washing machines that get added to GDP. Machines wear out and therefore depreciate so why is only the depreciation of capital goods subtracted. Economists do not say much about Net Domestic Product however. Where does planned obsolescence come into this nonsense? Marx and Smith never saw planned obsolescence.

@juliabrook1941

Жыл бұрын

@@psikeyhackr6914 m mum m😊mmmpm😊anP😊0

@spoonikle

Жыл бұрын

@@psikeyhackr6914 Marxism is incomplete, not a dead end.

@psikeyhackr6914

Жыл бұрын

@@spoonikle Yeah, workers will be replaced by robots. "Robots of the world unite. You have nothing to lose but your firewalls."

One of the best things I ever did in my journey to try to understand the world, was discovering the lectures, interviews, and writing of Yanis Varoufakis. He is a phenomenal example of the power that comes from knowing the mind of your opponents. Understanding their strategies, and tools, and weapons, as well if not better than they do.

A very fine deconstruction of the constructs such as hypothesis, thesis, theory,and falsification/verification ....

@jannichi6431

Жыл бұрын

Difficult to comprehend that top 1-10% owns same wealth as bottom 60% in USA. Gap getting worse, not better.

This is a thinker that I learned as he is so correct we are blessed where another Greek thousands years later now guiding us onward

Interesting and intriguing talk by one of the best thinkers on Economics alive today.

@crustycupcake110

Жыл бұрын

I can name plenty of better thinkers in economics, but they choose to spend their time devoted to research and not the press or public.

@SvalbardSleeperDistrict

Жыл бұрын

@@crustycupcake110 "plenty of better thinkers in economics" That's a dubious claim, to say the least.

@whosOHW

Жыл бұрын

@@crustycupcake110 I'm curious who they are, can you name them? I'm not asking because I think Yanis is the best (why should this be a competition anyway?) but I'm eager to learn.

@Trip4man

Жыл бұрын

And the irony is... Yanis is a Leftie! lol He's on a level... It's like, understanding WELL what you hate. He can even explain better than people that love Capitalism!!! Sh*t, I think Capitalists don't even understand Capitalism! And MOST people don't care about the things they hate... If there's something they don't like?! All of them just ignore or disregard it. I've barely seen people do this! So yeah, Yanis is special for sure! And btw he's been going at it since 2008 or something. That's a person with honesty and integrity let me tell you!!!... At this point, also manyyyyy people would give up or stopped. The circus/charade still goes on!

@dandare1001

Жыл бұрын

@@whosOHW nicholas gone. Mummy said sleepytime.

Such an eye opener... I knew it was a few at the top but only 3 evil empires left!!

I love listening to Yanis!

this thesis could apply to so many subjects... Great work, Yanis.

Thank you i am with you Yanis!.

Thank you !

We respect mr Yanis for his accurate interpretations

Wow! This remind me of my great years in the university learning economics . I miss so much does days. When you open the mind and learn for the first time that the world is so complex. That’s why we need thinkers that are way ahead of the rest. And thinkers that can tie economics to all of the knowledge available. Not only financial or state or worker view. Chapó Mr Varoufakis!

You’re the light to the world prof YV while the rest of us buried our head in the sand you always speak the truth. God bless

Outstanding and so clearly presented!

@AgeofEconomics

Жыл бұрын

Thank you! Cheers!

Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank

I love you Yanis!

Thank you for your work. Please do not stop, ever.

I love Varoufakis so much. Great guy, always insightful and a fantastic speaker.

I don't get his argument that demand and supply is no longer relevant when you add realistic factors.

At the heart of the capitalist economy was the production and trade of industrialized products. At the heart of financial capitalism were credit operations, even if their success caused artificially produced resections. All that is past. Capitalism and financial capitalism were operated by human beings. But we have already entered algorithmic financial capitalism. At its heart are the automated routines for buying and selling financial assets according to parameters that define maximized profit margins. Algorithms relate to algorithms and the human operators of the financialized economy are just the biological appendages of the economic system that produces financial capital accumulation for some and economic deprivation for most people. The crises of traditional capitalism were the result of the herd effect. The augorithmic economic crises of the future will only be perceived by the herd after the automated transaction system has gone crazy.

Great interview & very pertinent! Thanks. Also, it is wonderful to hear Yanis say that pareto efficiency departs from the assumption that humans are sociopaths. Because that was my immediate reaction back in Highschool in economics lesson and it made me recoil from economics the way it was taught.

@nathank8019

Жыл бұрын

I didn't completely agree. I'll grant that the theory is presented to many students as if individuals are all little Ayn Rands who make perfectly rationale decisions that help build and order society. That is a valid observation. But i don't think it is difficult to abstract the ideas of pareto efficiency for example and take the essence of the idea while recognizing that humans will human and theory won't always match reality. Or you can generalize very easily if you allow that a person's "utility function" can be many things besides "maximize personal wealth" its just short hand for value system, while economics is taught through the lens of markets. Seems that ignoring this is overshooting the valid criticism.

@AgeofEconomics

Жыл бұрын

Glad it was helpful!

@jannichi6431

Жыл бұрын

Thinking mathematically wasn't even a concept until college. Always knew it was missing throughout Primary Ed. Thank you for your keen observation 🐱

Irrelevant as Yanis is truth completely love how he brings other disciplines into economics.. Yanis is a "real thinker" perfect for Rodan's sculpture

Economics is how and who controls the surplus values.

I knew there was a reason I failed A Level economics twice! ;) Thanks Yannis!

I love you Yanis. I wish you were world President.

Very wise, the truth, good work

Very logical and I’ve always like Yanis’s‘ straightforward talking style’. He’s right. The saying is that mathematicians think they can forecast events but what they cannot forecast is 8 billion brains’ reactions to those events. That’s why Psychiatry and Psychology are not sciences too. However, to say that the whole world was feudal and based on aristocratic land ownership and not merchants before the British Industrialization ,and, Adam Smith actually putting it to paper, ignores : 1) Moneylending - cited in several hundred years B.C. And in the Bible .2) The Silk Road Trade from China , India to Europe ; to name just two instances when merchants were richer than landowners. Taking handmade goods and selling them. Yes there may have been exploitation of the work of peasants in making those goods in a feudal manner but it just illustrates the economics of trade, markets, logistics and profitable negotiations . Adam Smith gave PR to the case for mass scaling of industrialization in favour of these entrepreneurs. Being Scottish he also knew about the potential benefits of colonialism as practiced by many of his nationals.

Such a fascinating interviews!

Thank you Yanis for continue the good job of educating the elites. ❤

Wow. Extraordinary.

so true and well said 🌟three companies / corporations own everything - yes it’s like feudal families except on a global scale… I’d like to see Dr Faiza Shaheen’s book on the myth of social mobility being discussed in this context, as social media telling the young to work hard to achieve will create Great Depression - young people now without access to money / assets / capital will work harder, struggle to get housing and find themselves being continually told they have to work harder…

Brilliant exposition

I think the confusion arises from many things.A) These natural systems are an interaction of the static , dynamic, human emotional collective, greed etc.in the case of economics/wealth gathring. As they keep changing a truth in relative terms will change , during the next milli, nano second, like a weather system or a river. B) There are so many players, countries , corporations etc etc creating waves, that are unpredictable. C) Like in the slit experiment the measurements will change the reality, so erroneous to begin with. D) The time scales of contentment, environmental degradation, consequnces of greed seeping into amassing wealth and depriving the society and hence their home both physical and emotional, with crimes, unwholesome dynamics leading to drug addiction, teenage suicides etc, occur. In the long term these destroy us as a society and if things like nuclear wars are considered, our own survival as a species. E) the never ending human ego related ignorance and stupidity and the laziness of the masses to be educated as it involves their sensual gratification, so they just watch cat videos and not study even the basic economics is operating under the surface. These people en masses vote, spend money make decisions in certain ways, and elect politicians, who are short termist, and they go start wars and they act in the interest of their re election. The cycle perpetuates and reinforces and change all the time we live with the cumulative results all the time. The people who understand are a few and are generally selfish, do not organise to educate the others. That is why I salute Mr Yanis.

The empire whose homeland is the US is composed of RENTIER economies, not service economies, where wealth is extracted rather than manufactured. Monopolies and the banks (FIRE, finance, insurance, and real estate) extract economic rent (unearned income), and the rentier oligarchy at the top of wall street dominates politics and the security apparatus. Classical economists like Adam Smith explained that a free market is free FROM economic rent (collected by feudal land lords), not free FOR economic rent (collected by monopolies and the banks) as in neoliberal (Libertarian/Austrian/Chicago School) ideology. The American Empire is a neo feudal empire. Debt grows exponentially (compound interest), while economies can not. Only since Rome have debts not been cancelled. This is because the debt is the wealth of the rentier oligarchy, as with Rome. The southern border is full of refugees from rule by the rentier, or feudal, oligarchy, who are also in the process of cannibalizing the homeland. Imagine if the interest you pay for your mortgage was being used for hospitals, schools, roads, public internet provision, etc., instead of going to the bankers.

I want read your book for sure. I always had this feeling that there was something very wrong with economics.

It's certainly a nicely produced, inspiring three minute promotional video. Seven years after this event at the Berlin theater Berlin just had elections. Press has been, as always, about the CDU, SPD, Die Linke, FDP. It would not be accurate to say "there is little mention of DiEM25" - there is *no* mention of DiEM25 or MeRA25. Around the city on the streets prior to the elections I regularly was approached by people with SPD and Die Grünen leaflets. CDU, SPD, Die Linke campaign posters were everywhere. To learn of DiEM25's existence I needed to be on the right social media feeds. I enjoy watching videos with Varoufakis and Horvat. Evidence of any sort of political power "building" is sorely lacking here, however.

The trade off discussed in the second section, What are the differences between economic science and economic engineering describes American public education and vocational education delivered by non profits. Either you deal with the realities of the students level of knowledge and skills and build from there, or you create a curriculum that looks stellar on paper and pleases the funders. It's a zero sum choice and all institutions are structures that contain high salary positions. No executive is going to put their salary in jeopardy by telling the truth, hence the psychotic break with reality that we see across the country. Workers and teachers go through the motions, lying and what's worse - believing the lie. Students have no trust in teachers or the institution, both school kids and adult workers who are students in remedial classes.

Love Truth above All Things ❤️ Accept and Thank the Suffering 💚 (from the Knowledge of Truth) Confront and Illuminate Malevolence 💜 Identify and Differentiate the Left from the Right To Integrate and Transcend the Right and the Left Tirany is the Seed of its Own Destruction !!! The Ends Never Justify the Means The Means Always Determine the Ends From the Unconscious Hell ❤️ To the Conscious Hell 💚 Until the Paradise of Consciousness 💜 Thaaannnk Yooouuu ❤️ 💚 💜

@cheri238

Жыл бұрын

DR. Iian McGilchrist Books and discussions with many others in different fields of philosophy, sciences, histories, music and art, etc.

Varoufakis, We do have Economic laboratories. And you worked right next to them at Valve.. Look at EVE Online, look at Path of Exile, economies always arise in those games, its just a matter of time before those get parametrized and simulated again and again. You could make a game about Externalities and Climate Change!

A few strobe lights to set the tone dor Techno-Feudalism wud have been nice

Rather than assuming a can-opener, assume that the right to life comes with a right to the resources needed to maintain life… then build your models around that, and use it as THE necessary qualifier to whatever answers are produced. ✌🏼 I’ve lived with a Chicago-School economist for the past 6-7 years. It has been VERY educational. I now know why economic theory advances “one funeral at a time.” 🙄

This man decomposed his own science. If so why should we need economics? Why should we need need economists?

Yanis is using a lot of words for explaining simple concepts for those who know about the basic concepts of economics. The first part is simply that economics depends on political perspectives. Theories are devoid of social/emotional/time impact on people . Economics is making a profit for the owners.

great definition of capitalism from 48.36, the labour market and finance, both “weird”, what i say to myself when i walk into work every morning, “this is a weird contract we’ve entered into”. #diem25

a smart dude

This is also how major oil companies could rake in billions after the oil shares market crashed and went negative. Demand for oil went down, price went negative, still oil companies made huge 'profits' last year and this year.

Yanis should study Prout - Progressive Utilization Theory. There is an emphasis on cooperatives and economic democracy in Prout. This framework doesn't support having stock markets, an antidote to speculative capitalism.

Corporate buy backs can be regulated or taxed. Anti trust rules can be enforced and modified.

Is that a Milford Graves Lp over Yanis’ left shoulder?

Mr Yanis studied economics, yes, but that shouldn't make you think he isn't ideological in his talks and speeches. Here's one of his silly ideas, he calls "diagnosis", of modern digital clouds, internet clouds, or technically, "servers" on which data and businesses can exist. He likens "land" with internet "clouds" as some businesses also call it "space" since you could, for example, build a website on that "abstract space". First off, it makes it much easier to understand Yanis' point of view if you also knew he was brought up in a Marxist family. As he himself said it, he saw "capitalism contradictions" from his childhood. Marxists in the past, including Marx himslef, saw "lands" vital for making capital. After all, you needed a piece of land on which you could build a factory back then. But modern digital age have created a strong headache for the Marxists. Modern businesses no longer necessarily need lands. So what should they do to continue selling their ideology? One idea, Mr Yanis', is why not assume the internet cloud is land? Surely most call it "space", and "space" can indeed be likened to lands, so Yanis believe. Sure, why not? Modern businesses are at least partially on the internet, and some don't have lands at all. But Mr Yanis continues to say, this digital land is restricted! He claims that companies like Amazon, a company that Jeff Bezos built out of nothing in the kitchen of his house, and now employs millions of people around the world, a company that he himself was the sole worker, delivering books to people, Mr Yanis thinks that the land that this private company created is restricted to few! The above silly, dumb idea is from this fella who has a PHD in economics. First off, the "digital land" is not finite, it's infinite, Non-excludable (an economics term), and Non-rival (economics term). Second of all, nobody's holding Mr Yanis' hand to build his own Amazon, his own cloud. In fact, some clouds can run right from your smart phones, including the server. Thirdly, if Mr Yanis insists to take a piece of Amazon "land", as his eyes are on this particular private company, he can, in fact, get a piece of it for free, free as in ZERO fees. And he wished to build a digital factory on it, he can do so with a very small fee, like the millions of businesses on Amazon. Marxists have a set of ideological, and expired beliefs that only exist in their simplistic imagination.

I can't understand why this discussion doesn't include Deuteronomy and Judges?

Yanis seems to be pointing out the fundamental structuralist fallacy of imposing a logocentric, idealistic model of reality onto a domain that is perhaps too affected by subjectivity

Tesla and Amazon are profitable though, although made losses for the first time in 2022

I want his class because this is rational but our world isn't.

We need #degrowth, transition to wellbeing economy, decisions models like sociocracy.

If by solving he intends find the inverse, getting the independent variable values given the dependent, I think he is wrong if he has got a deterministic model, as non linear as he wants. If the system is chaotic or stochastic he can still find useful information within statistical bounds. The problem is that we never had a credible model to start with otherwise we could still investigate the model with appropriate methods, Montecarlo for example, and reach useful conclusions. An example of a working theory of everything which is working, and is very useful, is the model underlying the limits to growth. This model is even strictly invertible for a limited time period.

@RalfStephan

Жыл бұрын

There may be models that are better. I'm thinking of agent-based simulations like Swarm. But these are computational models that don't obey simple equations. They can be experimented with, though.

@omblauman

Жыл бұрын

@@RalfStephan Who is Ralf Stephan to explains what YV says? What is a computational model which doesn't obey simple equations? A model with complicated equations? Is the model behind the limits to growth a computational model which doesn't explain anything? Here Varoufakis is at his least clear pretending to justify his views with logic arguments he doesn't know how to argument

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@ashliesatwick5977

Жыл бұрын

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@bradleyhouston8471

Жыл бұрын

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@carlyanderson3369

Жыл бұрын

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@carlyanderson3369

Жыл бұрын

finance norman (don't space)

@ashliesatwick5977

Жыл бұрын

I’ll have the app installed now and reach out to her after my work hours, Thanks for the info pals!!

Siliconvalley military madness

chicken or the egg, which came first?

"fascism is the dark side of the need for democracy" now lets sleep on that

@jannichi6431

Жыл бұрын

Power is in human potential of production (Unions). Today, the 'rentier' or borrower is rewarded unproportionally. Marketeering gone MAD. Even with Internet commerce and AI, raw minerals and commodities will continue to drive economies. Makers agree with Biden, bottom up and middle out. Rise ALL boats.

@meisam14

Жыл бұрын

A clearer, more accurate and precise way to express the intended meaning of this statement is: “fascism is the dark consequence that emerges in the absence of democracy.”

The stove blows up so strange

I have long suspected that the demand and supply curve is not empirical, just a made up concept. Thanks.

I would be most interested to hear from Dr. Varoufakis why communism failed - failure to understand human nature?

with that saying about capitalism my ego went down the drain!.

And that's why my friend is the reason that they are not better thinkers!. they are just watchers of life and that is making them lesser thinkers!.

Can economists do algebra? I asked a PhD economist from the University of Chicago to explain how an automobile engine worked. He couldn't even start. How much do consumers lose on the depreciation of durable consumer goods each year? How does planned obsolescence affect that? Economists do not talk about NDP. Check the NDP equation. Only the depreciation of capital goods is subtracted. There were 200,000,000 cars in the US in 1994. How many were owned by consumers? Where did the depreciation of consumer automobiles go? When they bought replacements that was added to GDP. Then the new junk gets to depreciate and be ignored by economists.

@cheri238

Жыл бұрын

Now cars are being repossessed because people have to choose between a car and food.

But now we have messy associative brain like AI systems that measure, weigh and take into account trillions of parameters. His critique about models is old-school.

Technofeudalist corporate right wing oligarchy! , 🎩I🤔 wonder about China's next move...

So... critical realism?

CORRECT!!! capitalism ended in the '60s

Tweet then Re tweets

Investment in investment. Wolves in chameleons' clothing. A multidimensional chess game designed & played by cyberbots.

@geoffreynhill2833

Жыл бұрын

Don't panic, you're in safe tentacles.

Any one who drives uber 16 hours a day is not a human

Absolutely, but math is a language? Speak out to those who need to listen.

I do not understand why Professor Varoufakis, experimental economies for ten years, completely dismisses experimental economists as irrelevant for real life. There are many field experiments which show that the stylised facts from experiments can br found in reality (e.g. win/loss asymmetries (Kahneman & Tversky) really matter in productivity when salary is increased or reduced). Laboratory experiments on universal incomes are even more relevant to reality than the short-sighted real experiments. Also it is simply wrong that macroeconomics is inaccessible for experiments. There are many macroeconomic experiments out there - just google. There are experiments with multiple markets and currencies. Varoufakis himself is very well qualified to design a Euro experiment for a situation like what Greece faced. As for the information asymmetry between buying and selling labour, I need not tell an established game theorist what contract theory is and what its predictions are. Unfortunately, Varoufakis’ prime dogma is that economics is irrelevant for the real world. In his case, this has become a self-fulfilling prophecy. Although brilliant, he almost refuses to publish in established economic journals. This theory aversion is the major problem of the political left today. The old Marxists folded their arms like Jehovah’s Witnesses and expected capitalism to crumble under its own weight, because Marx told them so. In contrast, private-public capitalism/feudalism has emerged stronger from every crisis. The new left rejects theory altogether. Critical thinking is something different. Neoclassical theory is not the theory of capitalism. It can be applied to all forms of economics, including any alternatives such as UBI, C2C production, taxing accumulated capital, and breaking down parasitic monopolies.

I like him, but he has no idea what he is talking about regarding physics.

Replace the V for a B in his name and it will all make sense. Greetings from Greece, where we've already had the privilege and honor of being ruled, ever so briefly, by Baroufakis.

I don't think there is anything new here. You are dealing people not atoms and economics is the dismal science. Our societies are rapidly changing whereas the underlying structure of the universe is stable (could shift in the long run) so approximations can be very predictive.. Perfect rational expectations theory died 12 year ago. There are truths to Smith, Marx, Keynes, Hayek, and Kahneman because the world is complex and messy. The worst thing we could do is worship a single creed because such a model can never represent the complexities of reality.

He spends a lo of tine saing economics is not scientific. Wonder why?

Yanes the worse is that Apple, Google etc have billions in debt and billions (app 230 ) in savings. That is why banks does not have to borrow to people who needs. Risk free for the banks and low administrative.

\__ ГОВОРИ ЗА ,,ВАКСИНИТЕ ПРО __/ \__ МАЛАРИЯ" _________ВПМ __/ \__М,,€"ТАХ,,$"А: __/ \_____________________________/

Thank god he is polling below the 3% threshold. Fingers crossed that his circus will not enter the Greek parilament come April..

@jannichi6431

Жыл бұрын

Creativity is difficult to put a price tag on. Clear, honest,proactive, pragmatic solutions would be more desirable from a member of Parliament.

Wow, really liked this guy untill the stupid shit he said in the opening of this episode. “90% of companies are owned by 3 companies” Black rock is the classic example, black rock does things like index funds. Add up all the stuff they “own” you get 8.6 trillion in aum (assets under management) “controled” by black rock. But you can buy blackrock at a rate of 100 billion (Market cap for whole company). So i guess you put one dollar into blackrock stock and get $86 worth of stock? Nope. These assets are not owned by , blackrock. Black rock makes things like index funds and when we jnvest in those, they get a very small fee (something like 3% of 1%) for taking all our money, and splitting it into tons and tons of different companies. When so many people put their money in its a good business, but they aren’t shadow running our economy, they don’t own everything.

Yes Yanis just ban econometrics already 🥲

The way he explains this is so much clearer than other heterodox economists. King shit