This morning I watched a YouTube talk by Greek economist Yanis Varoufakis, former financial minister of Greece. The audience was the Cambridge (Massachusetts) Forum, an intelligent assemblage of locals, including students and faculty from surrounding colleges.
The title of his presentation: Is Capitalism Devouring Democracy?
The lecture is followed by a question and answer session. Varoufakis's answers are as enlightening as the lecture.
He first relates the economic history of England from around 1400 to the present, emphasizing the effects of the enclosure movement and its role in the industrial revolution. He ties these developments to the growth of finance and shows how financial institutions like banks gained power over the political system. He then explains how it has led us unaware into the unhappy condition we now face— like the rest of the world.
This video is a must for anyone who wishes to understand how this historical process gave us Donald Trump. Watch it. This is important stuff.
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