Anatomy of an economic collapse | Yanis Varoufakis on the hypocrisy of the 2008 Financial Crisis скачать в хорошем качестве

Anatomy of an economic collapse | Yanis Varoufakis on the hypocrisy of the 2008 Financial Crisis

Yanis Varoufakis analyses the 2008 Financial Crisis and the dark heart of our modern economic systems. With the stock market crashing and a trade war well under way, could we be facing a situation similar to the 2008 Financial Crisis? With a free trial, you can watch the full debate NOW at https://iai.tv/video/economic-fact-an... Although there has been a recent fall, central banks are widely seen to have failed to control inflation. At times running up to six times target, the banks blamed the Ukraine war, but critics point to the rapid rise in inflation before war broke out, and amongst other factors often find quantitative easing at fault. Moreover, some claim there is a more fundamental problem that there is no overall coherent economic theory in the first place. Bank models failed to predict the 2008 crash or the more recent cost of living crisis. In 2015, the European Central Bank claimed that neither monetarist nor Keynesian economics provided solutions to the financial crisis, leading some to question if any economic theory had the answers. Should we conclude that central bank failures to predict, let alone avoid, economic crises are evidence of a deep underlying flaw in their understanding? Or were banks just negligent in their failure to respond to evidence of rising inflation? Do we need a radical new economic theory or should we conclude that the economy is not predictable, forecasting a mugs game, and the options for government policy wider than commonly supposed? #economics #financialcrisis #YanisVaroufakis Join Yanis Varoufakis, former finance minister of Greece, John Redwood Conservative MP, and Vicky Pryce, chief economics adviser to the Centre of Economics and Business Research. Hosted by the BBC's Roger Hearing. The Institute of Art and Ideas features videos and articles from cutting edge thinkers discussing the ideas that are shaping the world, from metaphysics to string theory, technology to democracy, aesthetics to genetics. Subscribe today! https://iai.tv/subscribe?utm_source=Y... 00:00 Introduction 00:20 The problem with economic models 01:18 Hypocrisy and greed in modern economics 02:53 What caused the 2008 Financial Crisis? 05:25 What makes a good economist? 08:19 A blueprint for revolutionising the finance sector For debates and talks: https://iai.tv For articles: https://iai.tv/articles For courses: https://iai.tv/iai-academy/courses