Yanis Varoufakis: Capitalism has become 'techno-feudalism' | UpFront

Yanis Varoufakis: Capitalism has become 'techno-feudalism' | UpFront

A recent Oxfam study found that since the start of the coronavirus pandemic, the world’s richest 10 billionaires have seen a wealth increase of half a trillion dollars – enough to pay for every person on the planet to get a vaccine.

In this UpFront special, Marc Lamont Hill discusses with economist and former Greek Finance Minister Yanis Varoufakis what is driving the staggering wealth inequalities and how governments are offering socialism for the rich, and austerity for the rest.


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  1. What for we need private banking system? Is it only to risk our life saving in the hand, of god knows what gangsters mafia managing them? I absolutely, don´t find neither only one reason, why all banks shouldn´t be public!? Give me only one reason that advantaging private banks vis – vis public ones, and justify their meritless given privilages to tayranning the general societies. Beside, nowadays, all the private banking sector is totally bankrupt, every where of the world, without the freely granted public printed paper money!

  2. pozeral som rozprávku zaspal zacítil že niekto priletel dnes viem alebo jedno z druhé neviem kto pozeral rozprávku z televízie ja alebo druhý rozprávke oby dva nemali žiadny význam

  3. 8:43..he says that private investors in the financial markets are missing a manifesto..this is like putting up a flag in warfare..the US won the revolutionary war through guerilla warfare..not lining up behind a flag and marching against the enemy..this is the kind of warfare that wins..it is with a secretive purpose against an organized enemy or threat..

  4. Everything this man is saying is perfectly rational and I agree with every single point. I'm a right wing collectivist, I think this guy has a very clear view of how the west functions. He presents the analysis to fix the west if they want to beat the leviathanic worm CCP has become.

  5. Yes…."fight the same struggle again and again for democracy" because the ruling classes are inherently opposed to democracy. I realize this now. Nice to have this insight confirmed by an expert like YV.

    My dream team: Varoufakis, Kennedy Jr, J Peterson and C Hedges (can you name more?)

  6. I've often stated that Varoufakis is the greatest economic mind that ever was. Unfortunately, great minds like his and mine (mathematics) are often sidelined and dismissed.

  7. Capitalistic system is not next reformeable. It must explodes and complete change heriditery and hightly imbreding ruling class, which is too most parasitic espeashly too those most inovative .

  8. Democracy doesnt work anymore. I dont need 50 percent of the country telling me what to do. A flat tax 10 percent shrink the govt 90 percent break up monoplies. Allow the buying of health car insurance over state /country borders. For the rich 10 percent flat tax like everyone else or pay 5 percent if they donate to a fund for pre exhisting health condtions. Create a confedration similar to the iroquois nation. had. Leave me alone lol.

  9. It is criminal to the point of redefining the concept of psychopath the lack of consideration of who is benefiting from covid lock down and who is suffering and having there lives and likely at least 2 generations of there children's lives destroyed or severely diminished Love some of his points but leftists have never and will never create lasting positive change for the masses when in power . There analysis has merit,there solutions are economic disaster

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