Yanis Varoufakis: From an Economics without Capitalism to Markets without Capitalism | DiEM25

A lecture organised by University of Tübingen economics students, delivered on Monday February 3, 2020, on the theme "From an Economics without Capitalism to Markets without Capitalism".

Mainstream economic models lack some important features of really-existing capitalism, including money, time and space. Its models offer ideological cover for a capitalist system that has usurped competitive, free markets.

The result? Unbearable inequality, climate catastrophe and permanent stagnation. A fork on the road is approaching: It will take us either into deeper stagnation and environmental degradation or to a society with markets but no capitalism. Prof. Yanis Varoufakis talks about the future of our economy and the current state of economics with special regard to pluralism in economics.

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[rafa_leo_siempre]

As an econ PhD, I just wish we had more professors like Yanis everywhere. After a 1.5 hour lecture, I was just sad it ended! I hope we can all share and contribute to realizing Yanis' dream of a brighter future for all!!

[ArtAristocracy]

“Imagine that you are representing some (Political) party, (on TV) and your interlocutor (dialogue partner) from an opposite party says something smart which you hadn’t thought of, suddenly you agree. But what you agree with now goes against the grain of your own party, if you admit it you are out, you are finished. This is why you have an inbuilt process of a dialogue of the deaf, in politics.” - Yanis Varoufakis 7:15

[Robschilder]

Commenting for the algorithm to place me in a subset of users who watched this and similar content. Thanks algorithm

[jf]

Having studied economics at Uni, Yanis described my studies perfectly. Neo classical was all we learnt. Thats it. And I remember feeling confused because the theory gave me more questions than it answered.

[MrMimios]

Yanis lecture’s main argument is about introducing a pluralistic approach in teaching economics. As it stands now, major universities all over teach students only the orthodox paradigm of neoclassical economics and have abandoned all together the history of economic thought. He says loud and clear, let’s change this agenda and expose students to every school of thought without any prejudice and allow them to judge what is right and what’s wrong. Being myself an economist I know very well how young economists are indoctrinated with mainstream neoliberal nonsense with the disastrous results of adopted policies around the world.

[philiprahman]

Dr Yanis Varoufakis is a talented thinker in our time. He talks for the rest of us, I wish he was the head of the UN. Please teach us more you are an invaluable asset. Thank you.
Australia

[nineallday]

I always had the distinct feeling as a Mathematics and Economics college student, that I was really just looking at cute mathematical formulas that were fairly simplistic and then someone made some wild assumptions about how the human brain functions individually and collectively to come to some crazy conclusions. But I just shup up, showed up for my tests, and patted myself on the back for managing to get a degree in a subject that is considered valuable to some degree. Of course in reality, I knew that I was in some pseudoscience mix of philosophy and sociology, but worse since it takes its shit so seriously and the math, simplistic though it is for anyone with a math backround, is just complicated enough to make people look smarter than they are. I gave up trying to understand this feeling or explain it besides concluding that it all is so complicated at some point but that surely a computer will be able to solve everything and factor in unexplained factors eventually. As I got older I realized for sure the human brain assumptions are so wildly off target for the reality of what I was seeing. This guy nails it on the head explaining so clearly why this feeling was happening for me and why it will always be there for anyone with a math backround and some level of critical thinking skills during an economics class, that has their brains functioning even slightly. We might as well be studying the stars and then making economic policy based on that.

[demba]

"The 1st piece of education, there's no authority " That's very wise.
We the students have the right to be told that it's ok to think outside the box or against the mainstream model.
Thank you sharing this conference.

[IamDruidess]

Commenting for algorithm! But also- I’m a high school drop out and don’t have enough money to get any more formal education. I watch many lectures to improve my understanding of the world. Thank you so much for the upload.

[dazecm]

When Yanis starts speaking of software giants like Facebook and free channels of communication being free because the supplier sees it as a means of manipulation I think of the following phrase: "If something is free, YOU are the product".

[kengele]

Thank you so much for making this available to the general public.

[josefranco]

I've been on a binge of Yanis Varoufakis lately and haven't been disappointed. He's such a great speaker that it makes me wish I was a better listener. Gonna need to read some of his books.

[jasmeenmalhotra]

Wouldn't it be amazing to be a first year economics student taught by Yanis? You would just be madly in love with economics for the rest of your life.

[vazyachocoorchidas]

I’m in my days of missing my college life. This video made me happy. I can watch a lecture by THE Yanis Varoufakis himself and it’s free! Thank you so much for this ❤

[XShollaj]

This a patriot and a compassionate intellectual who is not afraid to speak up.
Ευχάριστο Γιάννη, τι να κάνουμε που στην Ελλάδα δεν σε τιμούν.

[omegablack]

The problem, as with all these corrupt systems, is not that we lack smart (financial) engineers it's that we lack moral ones.

[jimbob-robob]

Why does the compassionate economic sanity of this man make me cry?

[vibhuvikramaditya]

Thanks professor Yanis Varoufakis, As an economics student who believes in the rational choice theory, You have inspired me to push beyond.

[bigmach]

Every few months I rewatch this Video. This one of the best economics lectures that I have watched in my whole life. The history of economics and the examples Yanis uses are very great and this helped me understand a lot of the theories and case studies I read in economics books. I have also got understanding of the world around me better.

[banzobeans]

27:59 "There is no authority, no expert, in pointing out which school of thought is right or not."

"Economics is much closer to philosophy than it is to science."