Capitalism is dead and so are we | Yanis Varoufakis interview

In lieu of the release of the documentary In The Eye of the Storm: The Political Odyssey of Yanis Varoufakis, Oli was joined by economist and former finance minister of Greece Yanis Varoufakis for a wide ranging interview.

Yanis sat down to discuss the downfall of capitalism and Western hegemony, the Labour Party's shunt to the right, and the ongoing humanitarian crisis in Gaza.

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[Lyra]

During 50 half a century of watching politics and world affairs I have not known a period when the disconnect between ordinary citizens and their leaders has been so great. But what is more disturbing is the knowledge that the current system does not allow citizens any meaningful political choices. Regardless for which political party we vote, the corrupt system remains in place because the true power brokers operate behind the political facade.

So as ordinary voters our political options inevitably are reduced to one of two appalling options: the lesser of two evils. Choose your poison. Nothing will or can change until the entire system is demolished and replaced by a substantively improved alternative system.

[plastictouch]

I wish this type of stuff was put in the faces of millions and millions of people rather than the mainstream news media slop that is served every day.

[garyleonardteacher]

If I'm not mistaken, Socrates once said (he certainly didn't write it):
The greatest form of injustice is that which presents itself as being just.

[doma-fy]

I am both economist and foreign relations expert myself, i mean i studied both and both remained my hobby till now, although I never made it to any significant position in the hierarchy, because I simply could not swallow many of the things that are vital to 'succeed' in nowadays world, especially if you live in a small postcomunistic central European country and end up with your old parents in a small town at least to enjoy some final years together. I travelled a lot around the world and i spent many years in Ireland, Germany and Portugal. Sorry for this long introduction. I have to say, I came to the same conclusions as Mr. Varoufakis within the time, or at least i had strong suspicions, that without data i could not prove. I can tell you honestly, most of the time i feel like total outsider, because i am the only one among my friends, collegues, ex classmates from University, neighbours and even intellectuals, politicians and media in my country, who thinks the way Mr. Varoufakis does. Most of people are either happy conjuncturalists who do not want to change anything and just complain about deplored people and populists or fascist movements, or unhappy loosers who do not fit in this system that systematically skins them, but they do not know why. Actually both of those segmenta do not know why. The first ones have no interest, the second ones have no mental capacity, social capital and education and tend to trivial solutions (it is a chain of reasons and results). So I am happy that I hear the the thoughts finally clearly formulated an explained by Mr. Varoufas, so for the first time I have the feeling that I am not the only one mad. Yes, we experienced privatisations of all business and houses/appartements in Czech Republic and in even more ridiculous way, than Iron Lady did. And with even harder consequences... We have the electricity and gas and mobile data and signal cartel, and evrn despite the fact, that the government owns 51 %of the biggest nuclear plant, the government did not use its power to keep the price low as possible as an antishock therapy, itdid the opposite:shareholders got 5 fold dividend as usual and Czech government got dividend too: most of it it used to support other companies that depand heavily on electricity and gas and just symbolically and very late helped households, so that you did not pay 3 times more fornelectricity and gas, but just 2, 9 times more... The effect of such policy was dramatic: we had 30 % cumulative inflation in last 3 years. Corporates became even bigger. And state has no money for anything, because everything is more expensive....Amd the conservative party calls: more capitalism, more privatization. Well, there is not much left: only health care system and schools... Post office was brought almost to bancrupt, so the solution was to close most of offices and fire postmen. The railways have already been divided between 2 companies: 1. Rails and 2.vehicles and buildings and the most lucrative lines privatized, which of course made everything much worse and unstable....Water system was privatized longtime ago too. The municipalities pay for maintenance and reparations, while the corporations just put chlorin to water and sell it through the public pipes to households together with invoices amd without paying for the pipes.... Yes, we support Ukraine rhetorically but we donmot produce and send amunition nor artillery to them. Germany sells it to Israel instead. And yes, according to our government, politicians and academics Hamas are terrorists and Israel has right to self defence. End of story. Not a single interview with a single Palestinian on public tv or radio. But Israel managed to establish Herzl institute of Istaeli studies, in fact a propagandist cell in one of the Faculties of the oldest university, the Charles University. No other country has such privilige...The director is allways on TV and radio, almost daily, inteoduced as an expert on Middle East. Ridiculous...

[greaper]

Ive been saying this for years, gangsters in suits, extortion is the game, money is to blame.
Look at any letters from your local council or government, do this or else, pay this or else, absolutely no difference, just legal gangsters.

[ziptink]

Yanis is the person I most recommend to anybody who wants an articulation of the systemic issues we face, and of where it is heading.

[Jadstar]

I love coming here. The comments remind me that I am not alone.

[kabal]

I have been following Yanis Varoufakis for sometime from when he was finance minister of Greece. I can categorically say this is the only European/Westerner who has been involved in politics on a government level who speaks the truth and facts in an undiluted, unbiased and unaligned way. Intellectual, detailed and concise. Everything he has mentioned is the truth. The general population simply chose a myopic view to these facts because they enjoy the privilege from their governments and want to maintain the status quo or they have been too brainwashed to this realism. Either way, the world is changing fast, you can no longer "win" by trampling on others with a bigger gun. We need more people like these to maintain order and diplomacy otherwise the West will descend further into a dreary place for future generations in decades to come.

[Icipher]

I don't remember who said it, but someone smart said that capitalism had made an alliance with democracy because it served it's interest to do so, but that capitalism would part ways with democracy if democracy got in the way of profit. It seems like that is what is happening now. Capitalism no longer sees value in going along with democracy, so it is replacing democracy with bureaucratic authoritarianism that enacts it's will with the force of the state regardless of the wishes of the populace.

[asahmed]

'And a Man sat alone, drenched deep in sadness. And all the animals drew near to him and said, "We do not like to see you so sad. Ask us for whatever you wish and you shall have it." The Man said, "I want to have good sight." The vulture replied, "You shall have mine." The Man said, "I want to be strong." The jaguar said, "You shall be strong like me." Then the Man said, "I long to know the secrets of the earth." The serpent replied, "I will show them to you." And so it went with all the animals. And when the Man had all the gifts that they could give, he left. Then the owl said to the other animals, "Now the Man knows much, he'll be able to do many things. Suddenly I am afraid." The deer said, "The Man has all that he needs. Now his sadness will stop." But the owl replied, "No. I saw a hole in the Man, deep like a hunger he will never fill. It is what makes him sad and what makes him want. He will go on taking and taking, until one day the World will say, 'I am no more and I have nothing left to give.'

- Apocolypto (2006)

[cocoacrispy]

Boeing exemplifies the problem of financialization. management is incentivized to neglect the actual product, the engineering, and the work force, and instead concentrates on manipulating the stock price, de-skilling the workers, and cutting corners wherever possible.

[plutopluto]

I am Turkish and fan of Mr. Varoufakis. This gentleman has high MORALITY and very intelligent! He always tell the TRUTH!!

[manusmambon]

Great interview!
Love the phrase: I like more Bastards in power who claim to be Bastards, than Bastards who claim to be working class. Listen to Mr. Varoufakis, Keir!

[sheilamashali]

This is a genuinely decent human being who speaks the truth.

[forsalestuff]

Great interview. I didn’t know this interviewer before. He did a great job. And Yanis is very bright and honest. Well done for both.

[deckardvostok]

The problem with western society is that it hasn't learned to differentiate between cause and consequences, you can blame, drugs, drug dealers, so called "terrorists", street burglars, serial killers, mass killers and so on, and continue to judge 'em over and over a scene in the movie WallStreet where they sum all up in a very fair and clear manner; in that scene Gekko tells Fox how the world really functions: (paraphrasing) You don't think we are living in a democracy do you? you ain't that naive are you Buddy? We control the game! we set the it even reminded the me that simpson's chapter with the "stonecutters" singing "who keeps the metric system down?, who keeps the aliens in line?...."

[kungfulegend]

When a country depends on financing from bankers, it's they and not the people's representatives who hold the power. For the hand that gives stand above the hand that takes. - Napoleon

[daviddavies]

Yanis saying it as it is. It's time we all listened and wised up.

[fabiodeoliveiraribeiro]

I have a rant to make here. In October 2023 I bought the book Tecnofeudalismo by Varoufakis on Amazon and paid for it (English edition, because there was no Portuguese edition yet). Amazon didn't deliver the book to me and I decided to sue the company. My lawyer did what was necessary and the Brazilian judge in the case granted an injunction forcing Amazon to deliver the book to me immediately under penalty of a fine. Amazon did not comply with the decision. I haven't received the book yet. I'm starting to assume that Amazon, the greatest symbol of Technofeudalism always mentioned by Varoufakis when he talks about the new book, is sabotaging the circulation of his work in Brazil. Does it not want me to read and promote the book? This is outrageous and ridiculous.

[abistonservices]

I am just a working class person but Yanis is telling me things i wish i had known many years ago, i was working to hard to read things like this!