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.