Had other plans for the evening, but I guess I will watch Yanis now

A Greek in Turkey...how appreciative we are of you all to speak in English. Such paradigm changing ideas. Thank you.

This man has really been speaking to the people. When he explains something you can see him reconsider his explanation and expand on it. Very informative.

Great man with great heart, who help us understand and see. Appreciation and respect!

Brilliant... we need more people like Yanis. All over the world.

Yanis is the Last of the Spartans! Atheist or no, God bless this Noble soul!!!

Brilliant mind.

3:02 lads

This is such an excellent video. Capitalism for the poor, Socialism for the rich.

I am also very appreciative that these talks are given in English.

Amazing talk.

A great talk. Very interesting relationships working between cooperatives, ownership shares, citizens' assemblies, and transnational parties. Thanks Yanis Varoufakis

Fantastic video - just the analysis I needed to listen to post election. Thank you. Would like to add Yanis, that at approx 1.14 in, your definition of universal basic income assumes that universal basic income will cause jealousy between the person getting up at 6am to go to work and the person not working. Universal means just that - every person gets a basic income, say, £1k per month. Earnings from work are on top of that, so the person who chooses to stay at home, perhaps painting because that is their talent, has income of £1k per month. However, the person who chooses to get up at 6am retains their basic income of £1k per month PLUS whatever they earn on top of that. A system like this would allow women to raise their own children instead of paying someone else to do it, allow people to consider career changes, allow people to care for sick relataives. A whole host of reasons why UBI could be better for society and arguably help to push up productivity?...

Absolutely EXCELLENT!!!!!!

Mr Varoufakis , high IQ and EQ 👈 Thanks for sharing this. 🌍

A Great Teacher!!!.

10:13 Philosophy of Neoliberalism: Adam Smith's Time vs. Our Time 1970s 13:30 Reality of Neoliberalism

Yanis you're a legend!

Yanis looks more like a professional UFC fighter than an economist.

Yanis speaks from a lot of learning and knowledge; truth bombs!

Yanis, please come to Romania!

Legendary talk. Tesekkur ederim dostlar.

1:13:06 Difference between tax and Dividend; Difference between Universal Basic Income and Universal Basic Dividend

Best Contemporary Leftist

"When the very few make profits, it's their profits. When they have losses, society has to give them money." 👈🏼☝🏼THAT. That, is it in a nutshell. And it has to change.

How do we get DiEM 25 chapter in the US?

This man imparting his knowledge informs and empowers those who are not exposed and wholely dependent on economy such as me. The ordinary person, the masses he mentions being duped and dependent by events totally out of my hands and theirs..

Eres el mejor analista que tenemos.. thank you!

"We need economic ties with all but allegiance with none" (Thomas Jefferson) Why were there widely different nations right from the start ? To keep the spirit of competition alive ?

This is the genius who was once Greece's finance minister...

Good stuff.

A suggestion to the answer given to the question at 1:16:06 - Instead of non-voting shares the voting rights could be transferred (in equal parts or by workhours) to the employees of the given company.

Yanis is a truly brilliant mind, but he might indeed be more of an academic that a politician. His plan for a European Green New deal is awesome, but I don't see the strategy yet how to get there in the short time that we have to avert catastrophic climate change. It is great that Mera25 made it into the Greek parliament, but during the last European elections, outside Greece DIEM25 remained totally marginal. I live near Berlin where there is the strongest DIEM25 chapter in Germany, and I attended one campaign event (with Yanis, incidentally), but then, until election day, I never saw any posters, no canvassing, no presence of DIEM25 in the streets of the capital, where their chances would have been best. I am afraid, that the Greek success may remain an exception, due to exceptional circumstances. Maybe also because there is no one else in the movement who is even close to Yanis in terms of communication and analytic skills. Despite its goals, DIEM25 still feels a bit like a one man show. I hope this changes.

Excellent discussion.

1:52:50 “How do we do it? Not by means of nation state based parties, they are finished. They are inward looking, they have a tendency toward nationalism, they play the game of one working class against another working class” [...] 1:55:06 “Transnationalism genuine internationalism in other words, in action, which while respecting totally the primacy of class (because this is what we are trying to do: to create class solidarity in action, not only in spirit) while preserving that accommodates national pride, national cultures. You know I am Greek I‘m not going to lose my affinity with Greek culture, Greek language, Greek literature because I am transnational and an internationalist. Similarly with our Turkish friends, our British friends and so on-how to combine all this in a movement for change? It’s very early days yet... It’s either this or going back to nation state based political parties that we’ve tried and with which we have failed.”

PROF. VAROUFAKIS PROVES THAT TO BE DEEMED A GENIUS, AS HE CERTAINLY IS, REQUIRES BUT A SINGLE TRAIT. HONESTY.

Greeks-the Light of the World. Y.V. very strong Mind. 💫

How did I miss this?!?!

some extremely high level ideas being talked about here

Thank you for this clear explanations of poverty.

Very interesting. Save it.

I only speak a bit of Turkish but it is one of the most well made languages I know of.

Despite difficulties he will become prime minister!.

is it true that on the banks of the river rhein there are 500 castles who can afford full orchestas to play and stay. all germams

Summary 5:30 current state of liberalism; every regime has it legitimizing myth 8:30 in capitalism regime, the myth is that selfish makes it work better, and market is the tool 10:10 market no more as a tool or instrument, but as an objective in the 1970's; market became a god, not a path to it 13:00 neoliberalism is for today's world what Marx was to Solviet Union, i.e., nothing 15:00 mega companies, mega banks and 1929; capitalism saved by capitalists 17:00 EUA as the machine that kept everything on march 17:50 age of neoliberalism after 1971 and end of Bretton Woods 19:00 world as the financer of EUA public debt 19:40 financialization and market as an object 20:30 neoliberalism died after 2008; neoliberalism means austeriry for the many, and socialism for the bankers 21:30 Trump won because, for the first time, more than half of american families could nor afford the cheapest car of the market 22:20 eighteen trillion dollars with negative interest rates; banks take this money and, e.g., (re)buy their shares 25:30 wages stagnation since the end of Bretton Woods; the only way for keep comsuption was financialization 27:15 Obama, representing the hope ofthe opressed, chooses Tim Geithner and Larry Summers, Wall Street paladins, for roles in public treasure 30:30 the colapse of capitalism in 1929 did not make socialism emerge, but fascism; the colapse of capitalism does not means something best will arise e.g. the xenofobia and alt right 32:00 the job is stabilize capitalism, not destroy it, and build something new from it 35:25 the twin paradox: today, the biggest ammount of money saved in history of humanity is not being invested on what humanity needs 38:00 costs of society, collective stupidity and new green deal 39:30 what will post-capitalism looks like? 40:15 corporations will die not in the hand of the leftist, but by it's own technology

Yanis ...is an intellectual giant!!!

Lost my carefully thought out but general statement of concern for global sustainability. Now is the time for a coming together without cost for travel, educate, healthy health as synthetics remains for surgery. but feel the Great Spirit Chief provides for as we reconsolidate for simplistic ease of living so all may enjoy life as we learn about our dearest and nearest neighbors on a global basis tied to sustainability. It's not hard to do if we consider all peoples equal...Hope I stated correctly without finances ever for one and all. Thank you. Sincerely, Don Suiters Clearwater Florida Will clarify any point.

The Greek Oracle

Starts at 5:33

Yanis, your analysis is great, your conclusion that the utter and contemptible failure of Western liberal democracy can be fixed with more democracy I fear is quite mistaken. It is not just the EU or the US, Western civilization is being undermined by its own internal flaws and simply will not survive unless serious reforms are made, CHANGE does not include more of the same, more failed democracy.

his answer around 30:00 is one my favorites of his. I have many hard left leaning friends who seem to think too lightly of the idea of "replacing capitalism". It would be an administrative, organizational, and most importantly a humane nightmare if capitalism were to completely collapse in our lifetime. And all this would be a gamble since we don't know what kinds of systems will aggregate from the pieces that are left after the collapse.

Yanis should come to Jakarta and meet President Jokowi

I am all in favor of DIEM25, but I wonder how come it couldnt gather support from Nordic Left parties and the like. If you want it to be a movement it should build bridges with fellow travelers.

How is this Not getting more VIEWS??!!! But a cat video gets millions of views. :(

The problem is the world relies on philosophers/politicians/bankers doing economics. The world needs engineers/scientists to do economics.

Real democracy includes decision about the means of production. The people (i.e. the workers) must control the means of production. So real democracy is essentially socialism. Varoufakis goes out of his way to not discuss class in this talk. He is the new savior of capitalism.

negative interest rates are the only thing that makes sense. money ought to have an expiry date. and if you create more of it than there is value in the system, it ought to decompose even faster.

Love your thoughts Yanis, but I don't agree that Jeremy Corbyn campaigned against Brexit at all. He was very absent as an opposer of it.

'Societies of Control' by Gilles Deleuze (1925-1995) - 'Societies of Control' explains in great detail the structure (imagine a farm with some sheep) - the space inside which we we live, think and create. Basically how and why we may think and behave as 'particular' pre-determined models. The forces and barriers, mostly invisible (and indivisible) which maintain inequality, bias and control = Overall Hegemony. Over who? You, me, that guy across the road, the woman on T.V reading the (bad) news, the politician harping on bad ideas, the rocker gyrating on stage, the diva on a world tour, the celebrities on the billboards, models on the cover of magazines, the girls eating bananas on instagram, the seething masses clicking away inside facebook, the refugees floating in the middle of the sea, the online trolls, the anonymous, the cops, the gangs, the outsiders and the insiders ... pretty much everyone. DiEM included. Thanks for reading.

@29:06 Aww shucks, thanks Yanis, blush! ::opens book:: ::remembers doesn't need to open book::

Chile was guiney pig of the new capitalist era, in the 70´s. Almost all services have been privatized, even WATER. Wages are kept low so that before the end of the month (when wages are paid) we run out of cash and have to use credit cards and bank loans. And the more poverty the rich families create, the less safe and stable the country becomes

When Yanis says the iphone was produced by the state he fails to say it was made by the military. Those technologies (wifi, bluetooth, siri etc.) were all produced by the military for some military purpose (yes even the internet) and then they free the technology to industry so that someone like Jobs comes along and repurposes the technology.

When I started to listen to this, I never in my wildest imagination expected to hear Yanis endorse trickle-down economics.

I remember when Thatcher said there was no such thing as society - what a hoohah that caused!

Please subtitles in English!!!

1:10:33 “Brexit means Brexit” = Brexit means breaks it = Brexit means break them = Brexit means we break us

Yanis in my home country? Why didn't i heard of this damn

38:10 let's not be stupid!

Actually, Yanis, Just prohibiting the sale of shares could stabilize Capital.

Should there be a difference between someone with a PhD and someone who has many stages of lesser amounts of education? How can this dilemma be solved between those who contribute more or are smarter... from those who do not have that talent or desire to succeed? From each according to his need or from each according to his contribution? What are the minimums? What ar the maximums allowed for those who have more money, talent, desire, parental gifting, privilege based on race, skin color, religious background of the dominate culture etc.?

I agree with Yanis. Those in power who cheered at the humiliation of their enemies, is no better than their 'enemies'. I was shocked to watch the 'humiliation of Saddam' splashed all over the newspapers and to think that Iraq was destroyed based on fake news. And as Yanis said, not that I have anything to do with Iraq from humanity standpoint. Someone who calls someone animal but acts like an animal is no better than the called animal.

People mention "Gender Studies," a very rare major (Business is the most common major by far), as the example of a pernicious course of study. Maybe. But did you know? "Financial Engineering" is a major now. I wonder what those people are studying. /s

Yanis is great lets hope he gets elected and doesn't make the same mistakes as Syriza

He has some ok ideas, but the big missing one is that taxes do not fund governments that use floating fiat currencies. It's the other way around: government must first spend before they can tax, otherwise they are asking people to take out credit just to pay the tax liabilities! Taxing wealth destroys money, and it does not operationally fund a government that has the sole monopoly power on issuing non-credit money -- vertical money, (as opposed to bank loans which are "horizontal money" which in aggregate nets to zero). But tax does create fiscal space so that government can inject new money into the economy with less inflation risk, and can do so for public purpose. That way we do not rely on the wealth of the oligarchs for a single thing. Just tax them so they don't wreck the economy by spitefully dumping their money. Of course they'd lose wealth that way too! But I bet they'd do it spitefully to try to wreck any socialist moves. So we first tax wealth to limit their power. Then government deficit spending is how to inject money back into the economy but from the bottom, to those who need it most. How? Not by bastardized Keynesianism! You do it with a proper Job Guarantee program, which has to be integral to a Green New Deal. In other words folks, learn #MMT The biggest macroeconomic myth of neoliberalism (which IS a THING, q.v. Mont Pelerin Society, and is deliberately both left-wing and right-wing) is the myth that taxes fund government. That's wrong. It's the other way around. If a government taxes more than it spends, and is running balanced trade, then it is running a surplus and the non-government sector is in deficit. That's how recessions are made, and is called austerity. Anti-austerity DEMANDS governments run large deficits, perhaps up to 10% or 15% of GDP (which means private sector surplus, i.e., adding to our household savings). But the QUALITY of government fiscal injections (deficits) matters! If you give it to banks just so they can hand out more credit money, you fuel a later debt crisis like 2008. But if you use fiscal injections (government deficits = private surpluses) on public good, like job guarantee programs, free healthcare, and free education, and free housing --- just the simple basics that should not be commodities --- then you have much healthier anti-neoliberal and more socialistic economy. And I agree with Varoufakis that this is a way to transition to post-capiltalit. Workers must have complete democracy in their workplace, and that way robot AI automation is a good thing, a godsend, workers can just vote to give themselves the same gross wage but fewer work hours, and let the robots do the grunge work. STUPID STUPID idea to then tax robot usage. Bill Gate sand Elon Musk need to f__k off and put their brains in a vat.

great stuff

In my opinion its a gross overstatement to compare greece with a concentration camp, Mr. Varoufakis

Interesting discussion. The universal dividend scheme, where he gave an example of Google gives 10% of its shares to Turkey doesn't add up. If Google, or any company gave 10% (or even 1%) of their shares to every country they operated in, they would have to give up more than 100% of their shares. Even the rationale for doing so is a bit fishy. The example for Google (always Google, I wonder why), is that everyone has contributed to the capital base of Google by using smart phones with Google apps. But what reasoning can be applied to other companies? How are the capital bases of car companies or supermarkets added to by the general public in order to justify taking some of their shares? It all seems a bit ad hoc to me.

6:48 is Ghent really that horrible, Yanis?

Why not only Germany in eurozone with euro money and others country not into a eurozone?

A fascinating discussion as ever, although it was odd that A} there was no discussion of the elephant in the room, Turkish politics and B} that Yanis seemed uninterested in the question about the toppling of Qaddafi and his intention to create an African Monetary Union.

Yanis says there is lots of money. It's just not going into the right places. Yanis thinks money has something like a static value. As a Greek, he should have learned something when Greece went bankrupt.. But money has NO INTRINSIC VALUE. It's intrinsic value is the value of the paper it is printed on. When it is not being spent or distributed, that is because those holding it understand that doing so will only reveal its lack of value. Withholding money makes it temporarily non-existent. It only has value to the economy when it is circulating in the market. When wood exists in fine furniture in a furniture store, it has value, but not when it is a log laying in the forest.

The top 500 firms only account for 37% of world economy

When is He talking aboutb Obama?

If the working class follows Yanis Varoufakis, it's doomed to suffer capitalist dictatorship forever. But he says enough that's right that he should be listened to.

Let's be patient and learn from the mistakes of the Soviet disaster and let capitalism make the mistakes before we have concrete scientific ideas.

Does there always have to a conspiracy theorist in the audience who introduces unrelated material?

Hey Yanis, how about a name change for the political/parliamentary aspirations of Diem. You could call it, owing to its Pan European. nationstate transcending, problem solving, solidarity. intentions, the Federation Party, to signal your intentions by this logo alone. & only later did I see the obvious Star Trek reference, which is really only a neat coincidence. Maybe you could start a Pan European movement, & co-op based common cause union of nations, that is composed of "loser' states like Greece, Italy, Spain, Ireland, Portugal, even Turkey, the Balkans etc., & call it the Meditteranean Federation. This would allow you to get the Diem agenda ball rolling, & allow Northern European Banks to invest in programs like the Green New Deal.......

We may feel we have a strong feeling to fight but the only answer I can give to that is an army full of soldiers against an army full of pens and paper the pens and paper will carry on writing a life time but the soldiers will be limited some solders will fall some solders will be hurt the rest will be painted for the rest of their lives getting used to the people who they are fighting feeling upset toward their government's but there is never winners in war we ALLWAYS feel the pain . The people's we are fighting against are ALLWAYS like minded by this I mean they still are people we are all humans together we all breath the same air although in some parts it may be tainted with gunfire or smoke my mum ALLWAYS taught me don't mix work with smoke. Fighting never gets you anywhere. If you need to fight then fight a philosophical fight study Buddhism or Hinduism because believe me religions like these have something to be gained. Sorry I don't want to talk I'll but Margaret Thatcher believed in giving monies vast monies to the rich taking away jobs from the poor taking money from the poor and not allowing the disabled to feel able to work. Now in the conservative government they have organised a way that keeping all the questions we no way want to answer would keep the benefits from us well now I feel totally burnt out so this is my disagreement to you I know what all the or what seemed like all the conservative party was saying but people like myself should be working for ourselves but instead I've burnt out I'm in a world that doesn't seem to offer me anything for the torture us autistic people feel. I like or should I say would like to think I'm earning money because it's well earned but I'm like the buildings that have broken down or should I say have been closed.

Yanis , why not call it, this new phase ofcapitalist-imperialism as ''Fictitious Kapital Domination of Imperialism'' , instead of real capital dominated Leninist Imperialism , as I suggested in 2002 ??? Noam Chomsky is correctly saying it is neither NEW , neither LIBERALISM , but imperialism !!!

sorry but i don´t want "hope" i want realization. tired of eating "hope" and it is what we will have forever and ever this...hope

The church would burn Christ on the bush

These are clrear words %clrear words

7:01 - every regime has its myth. It's legitimizing story. Soviet Union had Marx. Capitalism had Adam Smith. The Spanish Inquisition had Christ. ISIS has the prophet Muhammed. The current Western regimes have neoliberist philosophy 7:43 - the theory which is utilized by a regime in order to legitimize what it does usually is utterly disconnected from what the regime actually does 8:22 - the capitalist story? Nobody likes capitalists but if you have the market and the market is competitive " the butcher the baker and the brewer ", and each one looks after themselves, they will deliver the best goods to the public 9:12 - the public interest is best served when nobody is trying to serve it. (Those that claim to work for the public never do -- they're all liars) Since the 1970s, the market hasn't served as a useful instrument. It became the objective. Hammer / carpenter example. You must know what you're using it for. Margaret Thatcher quote "there's no such thing as society...there's just individuals" 13:36 - the notion of competitive capitalism that Adam Smith was referring to died around 1870 1880 with The birth of telephony and later with electricity (aka monopolies)...first general electric and standard oil....now Amazon, Facebook, google. This was the birth of both mega companies and in turn, megabanks 16:40 - bretton woods conference. They realized that in order to save capitalism from itself you have to restrict it and constrain it. These were not anti-capitalists, they were smart capitalists.

I love Yannis and I am a member of DIEM25, but can't agree with his analysis of Labour's election defeat here in the UK. Mistakes were made and they must be faced so the left can rebuild and win power.

My father owned a small ad agency for most of his adult life, I have just started a small business. There are 4.5 million SMEs in the UK.

communism without communists? NO, this is called feudal corporatism or NEW FEUDALISM

The next step after capitalism is money based on agricultural grains meaning it has a use-by-date, a shelf life like all other real commodities. In other words money that wears out and then gets renewed by those working on nature's products.

Margaret was a conservative that's what she called herself at the time

Yanis is great but I'm not as convinced as he is that capitalism will produce technologies that will dismantle itself.

A few years ago, the nephew of an old friend of mine was invited to lecture in political economy at Ankara University. During his first week there, he went out with three colleagues to a cafeteria for supper. They hadn't been there long when a man with a mask on his face appeared, shot them all dead and vanished into the night. Since then, his family has learnt nothing more about it - police investigation etc. - and I daresay neither have the good people of Turkey. 💔