Eye Of The Storm Podcast (with Yanis Varoufakis and Raoul Martinez) A WORLD BEYOND CAPITALISM | Jason Hickel and Yanis Varoufakis
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Jun 5, 2024 
Economic anthropologist Jason Hickel and economist Yanis Varoufakis discuss the flaws of capitalism, the need for sustainable economic models, historical resource mobilization, decoupling economic growth from carbon emissions, rethinking GDP as a metric for societal well-being, and the complexities of capitalism impacting global inequality. They explore the potential for a post-capitalist, post-growth economy to address disparities and exploit
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Fixed Prices
- During World War II, John Kenneth Galbraith, as price czar, realized existing prices were already fixed by cartels.
- This suggests inherent market manipulation within capitalism.
GDP's Limitations
- GDP's failure to reflect well-being is highlighted by the fact that exponential growth cannot be decoupled from resource use.
- Alternative metrics are crucial for evaluating true societal progress.
GDP as an Aggregate Indicator
- GDP aggregates all production into a single metric, ignoring qualitative differences and social impact.
- Focusing on specific goods and services produced and their accessibility, rather than aggregate output, better reflects well-being.