I have produced economic blogposts before - see this link here for an explanation of Modern Monetary Theory which everyone needs to understand to avoid having the wool pulled over their eyes by mendacious and patronizing politicians. This blogpost has some very useful insights too.
|Yanis Varoufakis - academic and politician|
Yanis Varoufakis is both an academic and a politician. Born in Athens in 1961, he spent twelve years teaching at the University of Sydney in Australia and has also taught at various British universities: Essex, East Anglia, Cambridge, and Glasgow. He served as the Greek minister of finance until quitting when the European Economic Community determined that Greece would follow an austerity programme. The Democracy in Europe Movement (DIEM25) was founded by him in 2016 as a political means of bringing about change in Europe through resistance to the neoliberal economic agenda that has become a dominant defining force throughout much of the world. Yanis Varoufakis describes the world that is now shaping us as post-capitalist.
This blogpost is based on his online streamed lecture on post-capitalism that was aired on 21 April 2021.
- In this post-capitalist world, the financial sphere has decoupled itself from the economic sphere. The old 20th century adage that what was good for General Motors was good for the USA held true for as long as General Motors was just a car manufacturing company. But by the time of the global economic crisis in 2008, General Motors may have still been making cars but most of its profits came from finance trading.
- The industrial revolution turned the world upside down in the 19th century. In the new world of