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Economy Social Policy

Why Universal Basic Income is a Necessity

By Z VideoNo Comments1 Min Read

In this video former finance minister of Greece, professor of economics, author and founder of the Democracy in Europe Movement 2025 (DiEM25), Yanis Varoufakis, argues why the Basic Income is a necessity today. His arguments take into account a macro socio-economic, psychological, philosophical and moral perspective. In addition after the speech Varoufakis addresses a wide range of questions from the public.

  • What is the social democratic tradition about? And how did influence Capitalism in the 20th century?
  • Why is Social Democracy coming to an end? And how is the process of financialization & the rise of technology contributing to its demise?
  • What is Bankruptocracy? What problems is it posing to our society?
  • What is the current narrative on the relationship between the markets & state in terms of wealth generation? And how and why is a change required in this narrative in order to make the Basic Income a reality?
  • What are the arguments are against a Basic Income? And how should they be confronted?
  • How is a Basic Income aligned with the Libertarian philosophy? Will it promote freedom of choice and self-determination?
  • How will a Basic Income promote creativity in our society?

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Yanis Varoufakis born 24 March 1961 is a Greek economist, politician, and co-founder of DiEM25. A former academic, he served as the Greek Minister of Finance from January to July 2015. Since 2019, he is again a Member of Greek Parliament and MeRA25 leader. He is the author of several books including, Another Now (2020). Varoufakis is also a professor of Economics – University of Athens, Honorary Professor of Political Economy – University of Sydney, Honoris Causa Professor of Law, Economics and Finance – University of Torino, and Distinguished Visiting Professor of Political Economy, Kings College, University of London.

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