Slo Mo: A Podcast with Mo Gawdat
SLO MO REWIND: Yanis Varoufakis On Imagining A Fairer and More Equal Society
Jun 8, 2024
Yanis Varoufakis, a renowned economist and former Greek finance minister, discusses economic justice, debt in capitalism, the evolution of money, COVID-19's impact on the economy, and the potential of blockchain in a fairer society. He shares insights from his novel 'Another Now' on reimagining economic systems and emphasizes the importance of avoiding predictions and investing in personal education for a better future.
01:16:58
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Quick takeaways
- The evolution of capitalism post-2008 into 'techno-feudalism' with central banks driving the economy through printed money, shifting focus to perpetual debt.
- Transition from competitive markets to monopolistic platforms controlled by tech billionaires blurs the essence of productive capitalism with financial market manipulations.
Deep dives
The Illusion of Money Value
Money's value is discussed as an illusion that dates back to ancient times, where currency was based on trust in its worth. The shift from currencies being tied to tangible assets to existing as an abstract concept happened post-1971. This change enabled financial institutions to create money out of thin air, leading to the 2008 financial crisis.
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