A lecture organised by University of Tübingen economics students, delivered on Monday February 3, 2020, on the theme “From an Economics without Capitalism to Markets without Capitalism”.
Mainstream economic models lack some important features of really-existing capitalism, including money, time and space. Its models offer ideological cover for a capitalist system that has usurped competitive, free markets.
The result? Unbearable inequality, climate catastrophe and permanent stagnation. A fork on the road is approaching: It will take us either into deeper stagnation and environmental degradation or to a society with markets but no capitalism. Prof. Yanis Varoufakis talks about the future of our economy and the current state of economics with special regard to pluralism in economics.