Yanis Varoufakis On Ancient Greece And The Nature of Money
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- čas přidán 3. 04. 2016
- The lecture was presented by Professor Yanis Varoufakis at the University of California, Berkeley, on 11/7/2014
Yanis Varoufakis is a Greek economist. Varoufakis was a member of the Parliament of Greece between January and September 2015. He represented the ruling Syriza party and held the position of Minister of Finance for seven months. He voted against the terms of the third bailout package for Greece. In February 2016, Varoufakis launched the Democracy in Europe Movement 2025 (DiEM25)
Varoufakis enrolled in the economics course at the University of Essex, United Kingdom, in 1978. After a few weeks of lectures, he switched his degree to mathematics. Varoufakis moved to the University of Birmingham in October 1981, obtaining a MSc in mathematical statistics in October 1982. He completed his PhD in economics back at the University of Essex in 1987. Between 1982 and 1988, Varoufakis taught economics and econometrics at the University of Essex and the University of East Anglia. In 1988, he spent a year as a lecturer at the University of Cambridge. From 1989 to 2000, he taught as senior lecturer in economics at the Department of Economics of the University of Sydney with short stints at the University of Glasgow and the Université catholique de Louvain and also acquired Australian citizenship. In 2000, Varoufakis returned to Greece where he was unanimously elected an associate professor of economic theory at the University of Athens. In 2002, Varoufakis established The University of Athens Doctoral Program in Economics (UADPhilEcon), which he directed until 2008. In 2005 he was promoted to full professor of economic theory. Beginning in March 2012, Varoufakis became Economist-in-Residence at Valve Corporation, researching the virtual economy on the Steam digital delivery platform. From January 2013, he taught at the Lyndon B. Johnson School of Public Affairs at the University of Texas, Austin, as a visiting professor. In November 2013, he was appointed guest professor at Stockholm University, Department of Computer and Systems Sciences, to work within game and decision theory at the eGovLab. On 22 January 2015, the International University College of Turin awarded to Varoufakis a Honorary Professorship in Comparative Law Economics and Finance for his extraordinary theoretical contribution to the understanding of the global economic crisis.
Books by Varoufakis in English include "Game Theory: A critical introduction", "Foundations of Economics: A beginner's companion", "Economic Indeterminacy: A personal encounter with the economists' most peculiar nemesis", and "The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy"
YF is, to my mind, one of the most accurate, lucid, truthful, historically referenced, philosophical broad-minded, well- researched, well read, humanistic people currently on the planet.
Good grief.... does anyone still take this lying hypocrite that constantly contradicts himself seriously?!?!?! He just goes round regurgitating his often contradictory "theories" and rehashing the obvious with his conflicting waffle depending on the audience and who's paying... Just look at the results of his "policies" and "predictions" - why do you think he was dropped kicked out of government by his "communist" comrades who were initially selling him as a "rock star" politician?!!!!
Don't fall for his duplicitous waffle and delusions of adequacy... he is little more than a narcissistic, treacherous little "populist" stooge peddling his books and - to quote the pathetic clown himself - "a comedy of errors wrapped up in harmless waffle" - which sums up this champagne socialist perfectly - just ask his former "communist" comrades who also betrayed Greece - or those holding his off shore accounts...
Time to wake the fracking hell up! It's actually slimy treasonous "populist" stooges like this and little niggle fartmirage that are undermining Europe!
@@noIMspartacus2 Everything you said is pure rubbish
@@psid9907 LOL.... of course it is... OH how the likes of Baroufucky and little niggle fartmirage just luuuurv the likes of you...
Despite being American, this man's ideas resonate deeply with me. I've never heard someone capture so closely my own view of these matters.
AGREEEEEEEEE
His ideas resonate because he is a genius who knows what he is talking about. That can't be said for most academic morons.
it doesn't matter where' re you from; we're all connected in capitalism.
We're all connected as humans.
James James, seeing what some "humans" are doing to other humans, this is highly questionable!
While I'm not a historian or an economist, it didn't take long to discover this train of thought and realize its merit.
A resource based economy is the Star Trek economy he aspires to. I love this guy : )
I love Mr. YV since 2015, it's a reference and an inspiration/captivating guide of valours.
Fascinating stuff. Great storyteller. Looking forward to next book.
I have liked YV for a long time, and especially admired his analyses of the Greek crisis, both during and after his time a finance minister. It is interesting to ponder the synergies between his thoughts and those of Paul Grignon in his video series ''Money as Debt".
I am glad YV has ventured into this territory, as his cultured and socio-historical style of analysis lends significant value to the debate on some of the most important issues of our time. I look forward to more.
I had a bad economics professor at university. But my major wasn't economics. Economics can be fun. Thank u Yanis Varoufakis
Very informative lecture. Thanks for uploading!
Another great talk among many by Yanis. Truly radical in that it seeks and reveals the roots of complex systems without necessarily calling for their overthrow. Buries the lead, however. The root of money is value and the highest value is self reflection.
sounds right but if you are reflecting about yourself after a while then you get poor too right? Like in Thoreau where his friend was the one who gave him the property so he could reflect about how he was against the Mexican war so after a while he got sick of that because he was eating beans beans beans ALL THE FLIPPIN TIME LOL
Lol. All things in moderation. You can get sick of self-reflection, beans, or Swiss chocolate in excess. When I speak of radical thought I mean it in the mathematical sense. That is determining the root of something that has developed exponentially such as global debt, income inequality, climate change. 1 squared yields no change. 2 squared produces double. 10 squared: now we're talking real growth. Self-reflection allows us to examine the root of our actions to better understand and determine their outcomes; to see what impact even our individual choices can have.
Take it from a real Greek and not a Soros schill like Varoufakis. This man is a con artist and is part of the elite agenda for a new world order!
Articulate thinking, Ken Bennett.
You again alexander... is this your job?
Greeks-the Light of the World.
This Man is Brilliant
He is the hope for the Next Generation
Thanks Mr.Varoufakis.
💯
I never knew he worked at Valve! Incredible!
I remember my school economics teacher telling how debt is secured against future profits, when i interrupted him to say “dont you mean prophets, as isn’t god the only one who knows the future” i got a C in my economics as i kept arguing that no one knows the future not even the bankers.
Thanks for telling people about the Laws of Lycurgus.
How dare that clown talk about Ancient Greece... Fracking hell... does anyone still take this lying hypocrite that constantly contradicts himself seriously?!?!?! He just goes round regurgitating often contradictory "theories" and rehashing the obvious and his conflicting waffle depending on the audience and who's paying... Just look at the results of Varoufucknukle's "policies" and "predictions" - why do you think he was dropped kicked out of government by his "communist" comrades who were initially selling him as a "rock star" politician?!!!!
Don't fall for his duplicitous waffle and delusions of adequacy... he is little more than a narcissistic, treacherous little "populist" stooge and - to quote the pathetic clown himself - "a comedy of errors wrapped up in harmless waffle" - which sums this champagne socialist perfectly...
Lets face it, he just regurgitates and adapts his conflicting waffle according to his audience and who's paying... just ask his former "communist" comrades who also betrayed Greece - or those holding his off shore accounts...
Time to wake the fracking hell up! It's actually slimy treasonous "populist" stooges like this and little niggle fartmirage that are undermining Europe!
Great lecture. The Star Trek finale is an oratory triumph. One day, 'fact' will match and exceed 'fiction' in value.
Very entertaining lecture that opens new perspectives and new points of views. )
This is utter gold.
Definitely a good leader. He s exposing the economy atrocities, the leaders past wrongdoings. A good lesson of history that anyone can preform. Geopolitics, Lobbys are visible through out the past. Also provides insight of present customs on commerce global conjunctures. So money is the issue? Is capitalism a threat? No one can erase Hellenism Period. No one should forget the coup Greece markets suffer from World wide banks. One portuguese thinks he understandsyour point, so when do you going to deliver your wages to your people? Ironic twist should be the title of this apresentation.
On the day in 1967 I was working in the Greek tourist office in London. The staff came back from lunch in tears.
7:30 on a similar theme (money,expiry date) Maynard Keynes suggested
countries that run a surplus should be given a specified time in which to
spend it or lose it.
At 25:51: " ... well, she's going to be the Governor!" That was Dennis Skinner.
but after all shouldn't currency be a public good / possession?
Both brilliant and funny ♡.
40:30 This is exactly, exactly, exactly what I thought.
Yanis has a wild, exotic, masculine and mesmerizing face. This on top of his Greek, passionate style of expressing himself and his ideas make me want to jump on a plane and head to Greece so I can "you know."
Yes he is Very Intelligent and very very Charismatic.
Great personality
@@mariettestabel275 Absolutely!!!
@@alexandrasymeon5893
Did you already made a trip to Greece ✈ Greeting Mr.Varoufakis?
@@mariettestabel275 No, just by his videos I've seen.
i agree with james. I LOVE YANIS
I was 1 week old on April 21, 1967, and, got an operation in the knees some 8 months later...
Before 1 year old, during my first Christmas in the hospital with photos from the hospital.
So yes, if the hospital abused me under 1 year old,
and, didn't inform me about it, and,
that system cause a global pandemic during my marriage,
after false indictment in sex offense,
which I could not allow them to abuse my family's moral
and my offspring moral with,
nor could I seek their sympathy for it due to their acts of war against the US Army medical department which US Army medical department got their own MedCom Command with the Pentagon on November 1993, after I was robbed to related inventory programs used for medical records and Electronic Data Transaction Systems I designed myself,
and which they try to cover the fraud about.
Yanis ignored the fact that the US dollar, as a default reserve currency of the world, basically ruined world economics. You have American companies that make goods in third world countries and sell them in USD. This destroys all economic theories that the value of money is tied to a country's national economic policies.
Read his books. When examining Bretton Woods, it was not meant to last forever and the US knew this but didn't not plan much ahead. He also argues for reinstituting Europes national currencies (floating) to help stabilize the Euro with more degrees of freedom and dampening shocks
Rubbish, he states that premise innumerable times and places here and elsewhere.
46:50 thats an interesting point but the extrapolation seems totally unfounded.
What creates human value? "Like an arrow must have a target in order to be purposeful, meaningful, so it is with human activity...
The moment one begins to make money for the purpose of making money, once it becomes a means to itself, money making is no longer a virtuous activity --
When is enough enough. Never. There can be no telos to money making [itself]. Then a human being is condemned to resemble a guinea pig, forever on a treadmill
Forever going faster and going nowhere. The opposite of eudaemonia, of a successful life...."
WERE YOU BEEN WEVE BEEN WAITING FOR THE COLLAPSE
"The elephant in the room...is perhaps the greatest factor in determining the role of modern money. The extractive power, exercised by elite on non-elite groups while at the same time shrouding social power in a veil of obfuscation. Money in its various forms plays a gigantic role in this process. None more so than the fantasy that it can be apolitical. For as long as this continues, money will remain a rather blunt instrument, a primitive tool in the service of maintaining a primitive social order that constantly spews crisis, deepens discontent, and champions inequality. In juxtaposition are more sophisticated tools of humans... capacity critically to reflect on the norms that supposedly ought to govern our behavior...to question the value of money and the values of those who are besotted with it. Thank you." Yanis Varoufakis
How we miss Dennis Skinner.
25:30 Was that Skinner who said: she is gonna be the governor!
Yes Dennis Skinner, MP for Bolsover (still)
Your grandmother with a year 3 education sounds awesomely smart, presaging Professor Summers. Secular stagnation, too many savings negligently sitting idly around, is causing wage stagnancy. Force the rich to invest it on pain of tax. Idle rich.
Schuld is Dutch word and it means blame/debt. idk the German equavalent. anyway great lecture!
Means pretty much the the same in German. Dutch and German have a lot of common words. In religious terms, however, it comes close to a synonym for sin: "Vergib uns unsere Schuld" - "Forgive us our sins"
Q: 32:04 A: Long walk off a short plank.
By complete chance, I happened to scroll down and see this at the precise moment when he asked the question.
What do you mean?
Read Henry Georges Progress and Poverty www.henrygeorge.org/pcontents.htm for a discussion of the societal ethics behind Yanis' very illuminating history lesson.
very insightful. The point at 7:50 is key. Digital money in the "cashless economy" will expire. Hold on to your wallets.
Why would we want to do that when his whole point is to avoid the greater social ills caused by problematic wealth accumulation?
40:56 this is where we disagree, there is no contradiction here.
In Canada kid currency was Hockey Cards.
IT'S VOLDEMORT!! okay let the intellectual conversation continue.
In Pakistan ?
Now *that’s* humanism.
50:40 CDOs, currency.
Thanks for this clip. I really value Yanis opinion on matters, as he is very smart and thinks so clear.
However, I disagree about bitcoin. Bitcoin is a technological breakthrough, not a Ponzi scheme. Bitcoin is something real, it is like digital commodity. It takes electricity to produce, and is backed by the services it provides. The main is - secure, convenient, peer to peer transactions. It also creates infrastructure for smart contracts - i.e. internet of money. So, the dollar value of bitcoins may rise or crash - it will never be zero - as people find it useful. just like gold.
It's a good argument to invest more in "internal" capital - your own knowledge, your network of relationships - these can be carried with you and translated into value. and in the end, you still have them!
bitcoin's value is entirely based on speculation, unlike modern fiat currencies in which the government in someway guarantees the value of a particular currency. It is a ponzi scheme in which you have no idea how much the creator of bitcoin has in terms of bitcoin and as the public drives the value up, the few early investors owns more than the other 90% of the bitcoin volume. That's the reason why there are so many digital currencies nowadays, because if you can persuade the public to invest real dollars to the digital currency, you are getting free money in terms of the early coins that you hold/create.
wahhmann123 The government guarantees that the value of fiat currency will be zero, by committing to 2% inflation and creating huge unpayable debts. The government creates fiat currency out of air and uses to bribe voters and gives it to the cronies who buy real assets with printed currency. The ultimate Ponzi scheme is fiat currency. And so far every fiat currency ended as Ponzi scheme - by bursting.
People buy bitcoins with real dollars - because they pay dollars for the services offered by the bitcoin network. They also want to exchange ponzi fiat dollars controlled by Federal Reserve which is a private organization controlled by private banks for decentralized currency which is fair and controlled by no one.
By the way, "price based on speculation", means priced determined by free market, this is opposed to $ which is controlled by central planners and backed by american military that literally destroys countries that want to opt out of the petro dollar scheme.
Yuri, "real dollars" - you must be kidding, strip down all US aircarriers and military bases around the world, then we'll all see what "real" dollars are!
Anna Lee
Achilles was on strike for most of the Iliad because of Agamemnon's arrogation of his loot.
...Middle...
Europe.
…..or how to keep borrowing money and never pay it back.
Yanis for Mayor of London
37:20 feudalism to captialism.
Yanis Varoufakis On Ancient Greece And The Nature of Money2017.2.13.
We are heading backwards toward Feudalism...
Well, its about as terrible to us in sensation, but more accurately and just as destructive is the robber baron economics. That saw the rise of Fascism in Italy, Germany, and Japan, and the phony communism and very real tyrannical despotism of Stalin Russia and the USSR and Mao China.
Well James, that's because you were born human first, American second.
Illegally killing person for others target ? What is rules regulations law world court general scientific globally peace dr zaker naik justice with
Schuld-sin/debt: Mark 10:45 For even the Son of Man (Messiah) did not come to be served, but to serve, and to give his life as a ransom (payment of debt for the sins of humanity) for many. The Temple Tax: Matthew 17:25…when Peter came into the house, Jesus was the first to speak. What do you think Simon? he asked. From whom do the kings of the earth collect duties and taxes- from their own sons or from others. 17:26 From others , Peter answered. Then the sons are exempt, Jesus said to him. 17:27 But so that we may not offend them, go to the lake and throw out your line. Take the first fish you catch, open its mouth and you will find a four-drachma coin. Take it and give it to them for my tax and yours. There is nothing on earth that is of spiritual value except the value that the Almighty places on his creation; humanity.
And we also completely disagree on the labor theory of value.
25:50 Dennis Fucking Skinner.
The answer to the question: What is value (for humans) all about, (because money needs real value to back it up)?: is land. Land, the value of which is, 100% a communal creation. Read Henry George's Progress and Poverty www.henrygeorge.org/pcontents.htm
always the same; he's right when he point out the problems, but he's wrong when it comes to offering solutions
No telos to usury. Sin of Midas, Shylock, Calvinism.
Capitalism though reflects natural selection where inequality is not only an asset but the very engine of evolution into better life forms. Until our species will be able to evolve with some mechanism other than natural selection, I suggest that we stick with it and pay the price for its perfect though painfully so functioning.
You mean death people, yes? I like it. After every major war we always have some breakthrough technology. We should collectively create a world war every 10 or 20 years, until the only strongest people survive. I like to see people killing each other as much as you do. I like people have the same mindsets. Good luck 😘
@@vajliakduke6231 I abhor killing people unless it is done for self defence. We should know enough as a species now (thanks to Darwin and Genetics) to avoid atrocities like that and evolve without the need to kill anyone instead.
Yanis you can not just claim that bitcoin is a ponzi scheme without backing that claim up with some measure of fact. All bitcoin aims to be is a smooth release of number units and a shared record of ownership of these units without central control. How is this not ideal money?
How is it not ideal money? It is electronic. That's all I need to say really
That is like saying the horse is better because cars require gasoline. Bitcoin requires electricity, that doesn't make it worse, it actually enables the strict supply limits required.
+Rouan van der Ende in my opinion making something online does make it more unreliable (in some ways) as I'm pretty old fashioned. At least horses don't destroy the earth
+Rouan van der Ende because the supply should not be limited like that. During a recession, money needs to be injected into the system. it needs to be flexible. being electronic is not a problem. your debit card is electronic.
+Fakey McFake of course it has its benefits but it's not without faults...
Mr. Varoufakis 's father wasn't much of a metallurgist to claim that iron was a soft metal. It is hard and very brittle. Gold is a soft and malleable metal. This is at 10min in. Carbon has to be hammered or otherwise worked into iron to make steel, not just quenching hot iron in water. Working carbon into iron makes it softer, more malleable and increases its tensile strength.
I generally enjoy listening to Mr. Veroufakis but if he tries to claim that a non-monetised economy is somehow superior, I may never listen to him again. If money was the root of all evil, barter is the root of all slavery. He leaps from the iron age to the age of steel without stating dates (the late 19th century for steel). And he makes the ridiculous claim that gross inequality is a result of the modern monetized economy. Any backward glance at history can easily show that worse inequality existed in the past than today. Past inequality was institutionalized in terms of political rank and bloodlines: the noblesse versus the commoners. Adam Smith thought it was reasonable that a typical agricultural worker and his family should live in a house that took one man one day to build. It takes that long to build a typical doghouse. Didn't YV ever hear of serfdom? The Spartan nobility thought it was the duty of a young warrior of the upper class to slaughter a peasant as a right of passage to adulthood. If it hadn't been for monetized economies we would be commoners and even serfs.
"Christians", if they ever try to live according to that ignorant statement of St. Paul, effectively enslave themselves to each other. That may work fine for some as long as the community is in a good mood or under the constant, very strict supervision of the "adults in the room". But like all perfectionists, they can also be mean and nasty when they disagree over the precise definition of perfection. So can all political or economic systems that force people into an arbitrary model of human perfection.
There were/are many problems with the Greek economy and YV has done a good job in the past discussing the problems, but this riff on the problems of an economic union is just proof that he's in love with his own celebrity, but so are so many politicians now. it's getting boring. If the EU is mistaken to try to build a federal political and economic union, than what is right about the superpowers maintaining their own internal economic unions?
BTW - The problem with using Aristotle to prove the point of anything is that Aristotle didn't really observe nature or reality. He thought he could tell nature how it behaved and if it didn't do what he claimed it should than nature wasn;t behaving correctly. Aristotle didn't know how to experiment.
Dear John ( John or Ioannes or Johannes, Barouphakes)
Slow down the pace of your nerattive because English as a second language is not offered for such a luxury in rapidity. Words are mashed up, tackled, overflown, overlapped. The end result.....disappointed. Also the foreign languages are using proper Greek language orthography and you must know that they write "epitokion" and not using your truncated track of "epitokio" which looks REDICULOUS a practice of political language correctness in your uneducated country. It is sad writing your name in Latin charakters so pedestrian. Good luck for your European ventures.
there was really no need for this comment of yours. that was pedestrian as you failed to focus on the subject matter discussed and chose to comment superficial if partly true matters. judging from your name, i sense some kind of inferiority complex lurking underneath. please be more constructive in your criticism next time around.
karagiozhs
It is sad to realize that you are beside the point of my comment, and since we are not on the same basis on the subject it won't make much sense to replying to you as a meens of mutual understanding.
Not commenting his good points, and are a lot, means l agree with him. In logic it means "common sense" (ευλογον, which is a criterion of truth, in logic, and applicable for intelligent people), Moreover a christian statue dressed with Roman tunics or Greek chlamis, don't make them Romans or Greeks. So Barouphakes his bad grammar won't lessen his message but will create a contradiction in academic common sense. This attitiude blemish his academic status, and it seems he tries to cover his radical orthography behind his academic or political status, that it can be excused. I thank you for your precious comments for my name. ΥΓΙΕΝΕΙΝ !
+Alexandros Aiakides With (more) respect now: I think you see links where there are none. Being an academic and being a good or poor master of a foreign language are not interdependent. Which is to say: Don't judge a book by its cover. So, there is absolutely no contradiction between verse and idea, in Yianis. What's more, this is not a matter of "attitude" as you put it, but rather a natural limitation of a non-native English speaker with perhaps a tiny teedbit of self-admiration, of which I can accuse all of us living on this rock in space. Last but not least: internet in not an all-sensory medium, meaning you are being judged on what you let on through your avatar, your name, your posts. Common sense, in this context, is defined and delineated only in the framework that you _verbally_ express it in your posts. Thus, your "common sense" is certainly not my "common sense" nor anyone else's axiomatically; a fact that is generally known in physical interactions and highly exacerbated in our e-interactions. And more importantly: My intention was not to challenge you with your own post. If I offended (and I may have), my apologies. ΣΚΟΥΤΟΥΛΟΒΑΡΊΣΚΩ ΣΟΥ!
l agree with you that there is no contradiction on verse and idea and l am sure l did not touch it. His contradiction is on his grammar and his academic status, where l touched it.
I am pleased that l earnt you respect to the degree you have measured it. All our ciciliazation values are the same for all people. The difference is the rage of intelligence one is able to perceive them. Some universal values:
1. 'No society is able to be created without Shame and Justice" ( Protagoras). 2."will, wisdom, and ethical behavior, helped man to get rid off his craziness, and make him independent and have good estimation of things" (Antisthenes). 3. "the ears and eyes of the uneducated are bad witness" ( Herakleitos).
Humanity must have conquered the basics to be able to communicate between ourselves intellegintly.. Internet is a wonderful thing open forum for any intelligent stratus people. Thanks for your time and effort to streamline ourselves on the useful.
Your spelling is atrocious, look at yourself first.
I like mr varufakis but I dont understand why he is so mad about the dictatorship in greece, and no one is telling the whole truth about it the dictator papadopoulos free every debter from its debt before the parliamentary republic democracy came in Greece, varufakis had to know that both sides where controlled from usa's cia's agents. its sad to see that ppl even if they are so educated they see it again with one eye not both.
papadopoulos also gave free loans to big families that thrive n rule till today.
you shouldnt b happy about any kind of"free"either, coz there is no such thing.FROM WHOM DID HE TAKE AND TO WHOM DID HE GIVE is what matters
SopaSoupa He was also responsible for the Turkish invasion of Cyprus in 1974, which saw my family forced out of their homes and in some cases out of the country.
Turkey tried to invade 2 times before that. The Cyprus dispute between Greece and Turkey goes all the way back to 1922 really.
Did you live through the Colonels? Hmmm, I thought not.