The Reality Principle – Episode #18 – Feb 20, 2013


“Greece: The Political Economy of Depression “

with Yanis Varoufakisdelimeter4

RP_83x126This week, Eric closely examines the global economic crisis and, in particular, the manifestation of the Depression in Greece. Eric is joined by economist and author Yanis Varoufakis who provides his valuable insight into the origins and character of the Depression in Greece and around the world. Eric and Yanis discuss the evolution of the crisis and the ways in which Greece has been made into a scapegoat for the economic ills of Europe. Moreover, Yanis explains how the Depression is affecting regular Greeks who now struggle just to survive. Eric and Yanis debate the issue of a Greek exit from the Euro as well as the political formation of resistance to austerity and the policies of the European financier ruling class. In particular, they analyze the rise of SYRIZA as well as the dangerous ascendance of the Nazi Golden Dawn party. Eric and Yanis also examine the historical precedents for the situation in Greece and whether or not they provide a blueprint for how Greece can return to economic prosperity.

greekYanis Varoufakis is a world renowned economist, author and lecturer.  He is the author of The Global Minotaur: America, the True Origins of the Financial Crisis, and the Future of the World Economy, the second edition of which is now available. Yanis Varoufakis is currently Visiting Professor at the University of Texas – Austin and Economist-in-Residence at Valve Corporation. Follow his blog at