Originally published at http://www.commondreams.org/views/2020/08/31/post-capitalist-hit-summer
Yanis’ articles and books always reminds me of why economics is referred to as the dismal “science”.
He is one of the economists that I always trust to see it right from the People’s perspective, as he did when he fought, if not successfully for the Greeks, due to all sorts of sabotage.
Or maybe Richard D. Wolff, an American post Marxist economist. He seems to be quite accurate in his predictions on capitalist markets and economic areas. People oriented also.
The IMF and the World Bank make hostages out of many countries. Then they have to sell off public utilities, for example, just to pay interest on loans they may never be able to pay back. Just like the USA will never pay back its debt. That will be the real start of the failed States of America. When the ‘markers’ are called in.
Once something that SHOULD have been obvious is so clearly described, it becomes difficult to deny. Mr. Varoufakis has exposed the historical mechanics of this economy clearly. It may be possible to legitimately debate whether the solution requires a return to ‘New Deal’ policies that contain and regulate capitalism, or to more complete Socialist ones. But to ignore the total FAILURE of the policies of the past 40 years demonstrates not just a refusal to comprehend, but a self destructive INSANITY.
Perfect post Crabpot. My feelings exactly.
Same here Owl. I have Yanis’ book “Adults in the Room” right here beside me.
Like Crabpot above, I am unsure whether a Green New Deal is the way forward, or some form of socialism.
Maybe neither ?
But a new way of thinking and acting is long past due.
Since I just this moment turned my Thich Nhat Hanh calendar, the September quote seems applicable:
"The problem is not one of being wrong or right, but of being more or less skillful."
I see little or no skill displayed by our present political or mainstream economic poo-bahs - in fact - I see disaster in the making.
This is exactly what has been meant by “Freeing the Markets” and deregulation. FDR was correct when he regulated - the avarice was kept in check and everyone prospered, not just the top 2%. The inequality is immoral and the usurpation of our democratic experiment is being eroded.