The Econoclasts
UnHerd
The Econoclasts is a new podcast from UnHerd hosted by economist Yanis Varoufakis and journalist Wolfgang Munchau. While they don't always agree politically, they are united in one conviction: the consensus is rotten. Mainstream economics has consistently failed to predict the events that shape our world, yet this broken orthodoxy still dominates policy and media. Each week, they choose two pillars of the established orthodoxy — the "settled facts" — and shatter them, cutting through the spin to connect the dots between money, geopolitics, and the real forces shaping our future.Don't forget to rate, like and subscribe wherever you get your podcasts. Hosted on Acast. See acast.com/privacy for more information.
Episodes
Mentioned books
18 snips
Jan 14, 2026 • 38min
Trump’s war on the Fed & Bulgaria’s Euro disaster
Tensions rise as the Trump administration threatens the independence of the Federal Reserve. Yanis Varoufakis and Wolfgang Munchau dive into Bulgaria's controversial eurozone entry and the chaotic aftermath. They highlight the shift from technocratic consensus to a volatile era they call 'techno-feudalism.' The hosts also express concerns over the risks of private currencies and the implications for financial stability. Through discussions on central bank politics and the failures of euro expansion, they advocate for a return to serious economic debate.
28 snips
Jan 7, 2026 • 32min
Venezuela special: Maduro, oil, and Trump’s next target
Exploring the abduction of Nicolás Maduro, the hosts discuss how Trump's actions could legitimize international law breaches. They examine the potential revival of a Monroe Doctrine and ponder whether Greenland and Canada might face U.S. interests next. The debate over who benefits from Venezuelan oil raises questions about U.S. foreign policy motives. Additionally, the discussion transitions to how Trump's interventions could reflect his domestic political strategy, illustrating a shift towards a more transactional approach in international relations.
6 snips
Dec 31, 2025 • 26min
2025: The West’s annus horribilis
2025 emerges as a critical year with shifting geopolitics, marked by victories for Russia, China, and a tariff-driven Trump. The hosts explore Europe’s precarious position, highlighting failures in green policy and the erosion of international law. They discuss the rise of 'cloud capital' and the chilling prospects of AI-driven warfare, raising concerns about human oversight. The discussion culminates in a reflection on the meaning of hope versus mere optimism as they face the future in a world dominated by concentrated power.
25 snips
Dec 24, 2025 • 37min
Q&A: Germany’s economic death trap & the truth about BRICS
Yanis Varoufakis and Wolfgang Munchau dive into Germany's economic stagnation, highlighting outdated growth models and the need for ambitious transformation. They discuss the implications of far-right parties aligning with Putin and explore how Europe can revitalize its economy through migration. A bold peace plan for Ukraine is proposed, alongside a call for stronger European defense cooperation. The duo assesses BRICS as a serious contender in the global landscape and debates whether AI will disrupt traditional wage labor by creating new job dynamics.
5 snips
Dec 17, 2025 • 45min
Greece’s doom loop & why Europe can’t stand up to Trump
Hosts delve into the myth of Greece's recovery, arguing it's a financial illusion benefitting a few. They explore how investors profit from Greece's distress and the negative social impact on ordinary citizens. A discussion on Europe's debt reveals a troubling trajectory, while the inability to confront the US politically highlights deeper systemic issues. The need for European strategic autonomy is emphasized, alongside the challenges of dependency and a shifting focus on the perceived threat from Russia.
23 snips
Dec 10, 2025 • 40min
The AI bubble myth & the truth about Trump’s Venezuela attacks
Yanis Varoufakis and Wolfgang Munchau delve into the concept of AI as a potential game-changer, challenging the notion of it being merely a bubble. They discuss how AI might lead to a shift towards Techno-Feudalism by concentrating power and altering industries like journalism and education. The conversation takes a dark turn as they critique Trump’s Venezuela policy, arguing it's less about a 'war on drugs' and more about securing oil, labeling the actions as extrajudicial murders instead of war crimes.
28 snips
Dec 3, 2025 • 39min
Europe’s identity crisis: Empty values & defence delusion
Yanis Varoufakis and Wolfgang Munchau dive into Europe's identity crisis, questioning whether its proclaimed values are mere slogans. They discuss the muted response to sanctions against a French judge and how Europe's foreign policy prioritizes U.S. ties over its own ideals. The hosts scrutinize the ambitious 3.5% GDP defense spending target, arguing it could deepen dependence on American arms rather than foster autonomy. They highlight Europe's inefficiencies and the implications for military innovation, suggesting a need for a focused defense procurement union.
42 snips
Nov 26, 2025 • 37min
Trump’s Ukraine peace plan & the truth about the crypto crash
Yanis Varoufakis and Wolfgang Munchau dive into Europe's questionable strategy in the Ukraine war, suggesting leaders may prefer prolonging the conflict to justify rearmament. They dissect the ethical chaos and critique Europe's lack of coherent options. Transitioning to cryptocurrency, they argue major players have co-opted the market, leading to a troubling alliance threatening financial freedom. With stablecoins reinforcing dollar dominance and risking systemic collapse, there’s a urgent call for Europe to act on its digital currency future.
Nov 19, 2025 • 40min
Should Labour sack Starmer & will Reeves bankrupt Britain?
Yanis Varoufakis and Wolfgang Munchau delve into the tumultuous state of British politics, questioning the viability of Keir Starmer's leadership and the implications of Rachel Reeves' budget. They argue against the overreliance on economic experts and debate the pitfalls of midterm leadership changes in the Labour Party. Munchau critiques past political coups, while Varoufakis suggests bold alternatives like a national investment bank. The hosts emphasize the need for political accountability amid a backdrop of economic challenges.
Nov 12, 2025 • 47min
Palantir's secret pact & the Euro's fatal flaw
Unraveling the euro's potential downfall, the discussion reveals critical structural flaws that could lead to a crisis, particularly if political shifts arise in France. The conversation also questions the myth that capitalism equals free markets, exposing how state and corporate interests conspire to maintain monopoly power. They explore whether AI will challenge this status quo or reinforce existing tech giants' control. The hosts delve into the implications of data and technology in shaping power dynamics, emphasizing the need for genuine competition.
