Behind Varoufakis – and the personal value of an economics curriculum

Paradigm change is knocking evermore louder on your door…

Some incredible quotes (may be slightly stylized)

  • “EU is built on myths”
  • “EU was never meant to be democratic – it is an American Project”
  • “Eurozone never designed to sustain a shock”
  • “Great Financial Crisis orchestrated by Wallstreet and the twin deficits of America [through surplus recycling]
  • “Syriza may have to forge alliances with the IMF-bastards”
  • “After any form of Greek default, capital controls need to be put in place in Portugal. Domino Effect follows in Italy and France. Germany will leave the Euro before and form some ‘northern Eurozone’. The ‘south’ will face stagflation and dire times
  • “Gigantic amounts of unused purchasing power in the EU” / “The crisis is a coordination fail – nobody invests out of fear”
  •  “Truth of capitalism not found in mathematical models”
  • “Don’t read [Keynes’] General Theory

About the self

  • “My biggest fear is that I get corrupted by the privileges of power”
  • “[The movie] Matrix is a (impressionistic) documentary of the world we live in”
  • “None of my political initiatives are founded on my academic / professional background in economics – but the titles allow me to talk to the IMF, etc.”
  • “Anybody who doesn’t speak the economic language simply isn’t heared by the high and mighty, the hedgefunds, the FED”
  • “Value of studying economics is to see through the lies just as studying the bible did centuries ago. However, I cannot recommend without bad moral feelings this curriculum to any of my beloved ones – the pain of obstructing oneself half of your life is not worth it – there are better books to read out there”
  • The [right-wing] economic departement of Sydney employed me, because not even they could read my models

About Marx

  • “Did the failure to attempt mathematical proof of his concepts, even though he knew a value theory and growth theory do not fit neatly and solvable in one mathematical model. He did so, only to please the 19th century elite”
  • “Saw that labor is not a commodity-like production-funcion input, but that the fight of labour against commodification is the essence of capitalism. Once full commodification of labor is achieved, capitalism will vanish – i.e. humanist element necessary to capitalism”

Ad last quote: Sounds earily similar to Schumpeter’s finding of capitalism is always at risk of coming permanently back in a stationary stage (i.e. vanish) if rationalisation [economisation / commodification] corrupts the entrepreneurial element which may trigger re-feudalisation or socialism as a consequence.

-JAS

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