What is money and who rules the world? | Yanis Varoufakis | Escaped Sapiens #46
The Escaped Sapiens Podcast
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The Endogenous Economic Crisis of the 18th Century
Under feudalism, the order of playing was rather straightforward. The lord would send the sheriff to the peasants, armed and dangerous. On behalf of the landlord, it was just pure theft. That's what feudalism was. In societies like that, it was impossible to have an endogenous economic crisis. But with the advent of capitalism, they were replaced by sheep in England, in Scotland, and Wales. You have the creation of a working class, which is landless. They live in slums now outside the land. And then if the war didn't go well, all these promises broke down. This was not an internal economic crisis. It was a crisis of politics. A crisis of
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