2013-07-19 05.42.39 Thank you for visiting my blog. As you have just clicked on ABOUT, I take the liberty of assuming that a tale on how this blog came into being, as well as a few intimate details on its author, may be in order.

THE BLOG : Thoughts for the post-2008 world The Crash of 2008 and its aftermath were this blog’s impetus, together with my conviction that nothing can make proper sense in our post-2008 world in terms of the presumptions and dogmas that prevailed prior to 2008. Especially when it comes to Europe which, in my considered opinion, has entered an existentialist crisis (and not just an economic one) due to the incapacity of its institutions’ foundations to withstand the shockwaves of the 2008 global earthquake. Thus the blog’s title: Thoughts for our post-2008 world. A blog dedicated to the dissemination of ideas and suggestions concerning the way we interpret and act upon our mad, sad and highly mysterious post-2008 era.

THE AUTHOR: An accidental economist Let me begin with a confession: I am a Professor of Economics who has never really trained as an economist. But let’s take things one at a time.

Academic CV: Click here for my books, here for selected academic articles or, if you are of a masochistic disposition and for some reason (e.g. morbid curiosity) you wish to peruse my full academic CV, click here.

Two autobiographical talks: 

119 thoughts on “About

  1. Pingback: Τι κάνει ο Γιάννης Βαρουφάκης σε μια εταιρεία βιντεοπαιχνιδιών; | Nikos ON LINE

  2. Like your blog and glad you haven’t stopped blogging now you’re in high office.

    Maybe you should add Finance Minister to your CV ;) And perhaps black out the phone numbers if they’re still in use now you’re the subject of more press scrutiny?

  3. I found this Jan 27 comment by anonymous online:Yup, Varoufakis is a weird and interesting dude. Good politician though? In Greece of all places? Probably not. Which makes the experiment even more entertaining!
    – See more at: http://marginalrevolution.com/marginalrevolution/2015/01/yanis-varoufakis.html#sthash.hee7z9nY.dpuf
    What do I think? You should read Robert Sternberg Thinking Styles if you haven’t already done so! You come out as anarchist not leftie in my opinion (and Sternberg’s), Anarchists don’t make successful authority figures!

  4. Dear Professor
    I was gladely surprised to see that we share a common fixation with trying to understand the simplicity of each part in a complex ensemble…although my knowledge of economics is modest but i like to think that i have a starving curiosity for man-made mechanisms (nature will anyway always amaze me and surpass me :-) ). Symptomatically I also write my name Yanis (rather than Yannis). I would like you to comment on this recent version of a planB devised by the germans:

    …and i humbling offer my help in doing what i think i am good at: informed, educated and sincere constructive criticism.

    PLease surprise us.

    • Congratulations!
      I am Portuguese, I am working in Brasil as civil engineer because European crisis and I will do my best to support your politics.
      I do not have any political orientation, but I belive that in some moments we have to react in a certain way, and I am against obscure politics that promove unpayable “loans”.
      Fortunately I do not have depts.
      If I can do something to help please email to jncveloso@gmail.com
      Congratulations again.

  5. Greece needs an overhaul in so many ways, Good luck, remember you have to work with Greeks, i say this with love. There was still a crippling third world kind of system still in existence there, how can you bring it into a digital space. I think the good news is that even the older generation gets this in Greece. I will be praying for Greece to take care of its own economy once and for all.

  6. Pingback: About | Yanis Varoufakis | Blog de Ana María Palos

  7. Dear Yanis,

    I am Greek Canadian. I live in Canada but have family in Greece.

    The last 4 years have been difficult to watch. I worry about my friends and family daily.

    I do not trust politicians or the system, but I am hopeful you and your party will put an end to this global charade and show the elites around the world that people are what matter most. Not money, not power, but people.

    You have an opportunity for real change. Not Obama change, but real change.

    Do something to show the world that democracy is not totally bankrupt.

    We are watching.

    • I can’t think of any better example of where ‘not money, not power, but people matter most’ leads to, than present days Venezuela. Why bothering about turning Greece into an European Venezuela? Why not paying the Greeks a one way air ticket to Caracas instead, and let them join the party?

  8. Dear Yanis

    Many years with lack of communication, the reasons we can talk in direct contact, I confirm you that we had same problems in all levels of our life, personal-family, this is the explanation of our no communication till now, I was keeping myself silent and calm in order to solve all the problems so I was avoiding any direct or indirect participation, also the most important is that lovely persons have gone under this bad and non acceptable war done against us
    Anyway, I was following the whole progress of your development and off course of SYRIZA
    I don’t forget that afternoon in dolce and our sweet fight on our roots and off course the result, now it’s the time to see our past decision to take evidence and proof in society and economy
    I wish you all the best and off course on the third party of dolce that afternoon, I mean Alexis
    The victory is coming and our thoughts, proposals in dolce were corrected and off course our decision on the name finally was right
    I thank you in advance
    John Gklegkles (N)

  9. Pingback: Fitrats kleine Kapitalismusschule | Tethys

  10. Hi Mr. Varoufakis,

    My name is Alex and I am an incoming freshman to the Economic Program at Drexel University. I am also an avid PC gamer, and I’ll be attending the International next week in Seattle. Since I have a VIP pass, I’ll also enjoy the tour of the Valve offices, and I was wonderin if I could ask you some questions about your job while I’m there. I’m extremely facinated with your job and how it relates to the gaming world.


    • I replied to your email but it bounced back. Please use the Contact button to send me your correct email.

  11. Pingback: Modern Money: Aesthetics after the Gold Standard | Modern Money

  12. Pingback: Blabber about Virtual Economics (Tenderloin’s Rubbish) | Punkonomics

  13. Pingback: A different approach for the crisis. “The wicked game” by Yanis Varoufakis | Ilias Papageorgiadis' blog


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  17. Pingback: Blabber About Virtual Economics · Mr.Eleven's Collection of Thoughts

  18. Dear Yanis,

    Thank you for an interesting discussion with Geraldine Doogue, on Australia’s Radio National which I listened to today.

    Your PITHY statements regarding Germany and its economic bullying dating back to WW2, were most amusing!

    We must never forget the Nazi atrocity and Greece I am positive, will surmount the challenges it faces.

    Best wishes,


  19. Pingback: 5 formas en que los videojuegos te ayudan en la vida real » RWarez

  20. Pingback: Estudios sobre videojuegos | Juegos

  21. Hi Yanis,

    I doubt you’ve heard my name before but I’ve been a major cheerleader for Valve’s open allocation (as a generally superior business model for technology) for some time. Anyway, I’m looking into the feasibility of a startup that uses market mechanics, coupled with machine learning, to solve a variety of problems in education (from K-12 to corporate training) and software ecosystems (e.g. open source). Since a lot of the inspiration for it came from game design, you’d be the perfect person for me to talk to.

    I came upon an insight that, if I’m right about it, could have a major effect on how people do business. (If I’m wrong, then possibly not; that’s why I need to talk to a real economist. :) ) The idea’s still a bit rough around the edges but a lot of people are excited about it.

    Would you be interested in reviewing the idea? My email address is michael.o.church at gmail dot com. Anyway, I hope to hear from you soon.

  22. Pingback: Farewell Mrs Thatcher: In spite of everything, you are being missed already | Ecoleft

  23. I just came heard your conversation with Eleanor Wachtel on CBC Radio and I’ve never heard any , politician, economist, professor or anyone for that matter speak about the world economy in this fashion, you have the most incredible vision and analysis I was glued to the radio. I will go out and buy your book and certain to follow your work and your speeches.

  24. http://fotis52.blogspot.gr/2013/01/1001.html

    όσο ζώ απ΄το σκοτάδι,
    ευελπιστώ η ικμάδα φωτός που ακροφαίνεται,
    να είναι ένας διάττοντας αστέρας,
    που αφού κορέσει την επιθυμία για φώς,
    θα επιτείνει μετά το πέρασμά του,
    την αίσθηση του σκότους,
    πεδίο λαμπρό για νέες αναλύσεις,

    όσο ζώ για το φώς,
    ευελπιστώ η ικμάδα φωτός,
    να μήν είναι αντανάκλαση,
    αλλά πρωτογενής άμεση επαφή,
    με τον κοινό ζωοδότη ήλιο,

    όσο η οικονομία θα διαμορφώνεται,
    απο την ιδιωτική σφαίρα,
    θα ορίζεται ως αντι-οικονομία,

    φτιάχνω τώρα ένα χειρόγραφο,
    χρήμα σε χαρτί,
    που η ταχύτητα ανταλλαγής του
    απο άνθρωπο σε άνθρωπο,
    ξεπερνά την ταχύτητα του φωτός,
    μόνο ένα, και θα λειτουργήσουν όλα,
    θα ανθίσουν τα πάντα,

    μια οικονομία δημόσιο πλανητικό αγαθό,
    ο νόμος της οικουμένης.

  25. Watched your today on C-Span and really found interesting your analysis of the economic nose dive brought about by the greed of mega bankers devouring the accumulated capital of the world markets. The fact that they saw mega debt as a way to increase value without regard what was at risk for the bigger part of humanity. The upheaval appears to be an economic ice age that will dominate the global economy for decades (or loonger) unless there is some kind of seventh monkey awakening to the ultimate destructive nature of capitalism.
    Capitalism requires a persistant growth of consumption of materials, services, construction of infratstructure and disposaql of waste. While recycling mitegates and green energy salves the atmosphere, the resources of Mother Earth are being rapidly consumed. Mother Earth cares not one iota about any of us and will be here after we are gone.
    Do think that it is possible for the dominance of capitalism to be replaced by a more socioenvironmentalism that is more human and community oriented? A world in which individuals would be rewarded for bettering the lives of humans while at the same time decreasing our carbon boot prints, is this possible?

  26. Just finished watching YV on C-SPAN Nov 20th US Town Hall meeting. Simply brilliant.

    No, the 2012 JB movie was the worst one ever.

  27. Pingback: Griechenland: Traurige Algebra des Schuldenrückkaufs | politropolis

  28. Αγαπητε φιλε Γιαννη.

    Ως ελληνας που κατοικει και εργαζεται (λεμε τωρα…) στην Ελλαδα (εχει διαφορα απο τον ελληνα του εξωτερικου) ζω στο πετσι μου το προβλημα που εχουν δημιουργησει οι πολιτικοι τα τελευταια χρονια.
    Προσπαθω να καταλαβω τι ακριβως μας εχει συμβει και ποιοι δρομοι υπαρχουν.

    Θα εχεις ακουσει πολλες φορες οτι τα λες καλα, οτι εχεις επαληθευτει στις προβλεψεις σου, οτι.., οτι….

    Προσωπικα σε συγκεκριμενο οικονομικο Portal που σε κραζουν συνεχως (ισως ξερεις ποιο) εχω υπερασπιστει με σθενος τις αποψεις σου.

    Φτανει αυτο ομως Γιαννη;

    Καλα τα λες αλλα φτανει να τα λες; Εχεις δηλωσει οτι δε θες να αναμιχθεις στην πολιτικη σκηνη, αλλα μιλωντας συμμετεχεις.

    Και δε μιλας απλα… δημιουργεις ελπιδες…

    Μηπως θα επρεπε να ψαξουμε τροπους να γινουν τα λογια πραξεις και οι ελπιδες πραγματικοτητα;

    Μπορεις Γιαννη να μας βοηθησεις;

  29. Pingback: For Europe’s sake Greece must renege on its bailout commitments | New School of Athens

  30. Pingback: SKMurphy, Inc. » Yanis Varoufakis: “Valve is an Enlightened Oligarchy”

  31. Pingback: A Mental Experiment for establishing the relative mood for solving the Crisis | New School of Athens

  32. Being a post graduate electrical engineer and amateur M theory researcher it always amazes me how elementary. economics is. And it rules the world….
    And I like everything you write…

  33. Pingback: “The Global Minotaur”: A “Great Transformation” for our Times | Left Eye On Books

  34. Κε Βαρουφάκη,
    επειδή οι νομικές και οι οικονομικές μας γνώσεις είναι περιορισμένες, μπορείτε σας παρακαλώ να ρίξτε μία ματιά στο site : “http://www.greecedebtfree.org/” Greece Dept Free, και να μας πείτε τη γνώμη σας ;
    Αν πράγματι κάνουν αυτό που λένε, τότε να βοηθήσουμε όλοι. Αν όμως είναι κάποιοι “επιτήδιοι” του διαδυκτίου, τότε ας μάθουμε την αλήθεια από κάποιον που γνωρίζει να ελέγχει για να προστατευτούμαι.
    Σας ευχαριστώ εκ των προτέρων για τον χρόνο σας.
    Περιμένουμε όλοι νέα σας, για το συγκεκριμένο θέμα.
    qwerty qwerty

  35. Pingback: Video Game Company Hires Economist To Study Virtual Worlds

  36. Dear Yani ,

    Watched your appearance on the Keiser Report and was impressed with
    your explanation on the obvious catastrophic financial manipulations
    taking place in Greece and other European states.

    The economic and financial problems facing Greece, Spain , Portugal , Ireland etc
    can not be solved under the current accepted economic models.
    All the discussions , debates , and opinions bandied about are a lost

    The present established economic system is a relic of the past , something
    that worked under different political and technological eras. Whereas we
    are experiencing a technology revolution , the social , political , and
    economic systems are in total stagnation and have not adopted in relation
    to the technological revolution.

    To make matters worst , we have leaders that are not trained or tuned in
    to what is taking place in the scientific and technological advances , or
    are they able to comprehend it.

    Deja vu , checking back to previous historical periods , we have many
    examples of how societies failed and declined due to their inability to
    adopt to new ideas and or scientific and technological advances.

    Expecting our leaders to solve problems that they for the most part
    created , and worst can not comprehend what they did wrong , is akin
    to believing a milk horse can win the Kentucky Derby.

    I run a small business and as a hobby or side interest follow financial
    and economic news , unfortunately for what ever reason , it seems
    that finance is now the new paradigm , not what is produced and
    or manufactured , it’s only about , credit and financing that seems more
    like speculation and gambling. In the 1950’s the cliche in America was
    ‘As General Motors goes so goes the country” , this is sort of a simple
    way of saying, it’s all about what we produce that counts , everything
    else takes a back seat. Manipulating interest rates, bonds, loans etc,
    is not going to do much if the productive side of the economy is not

    The major dynamics driving the present world economy is technology
    and globalization. Globalization has advanced China to the status of
    super power. At the same time technological advances are for the most
    labor saving. Societies that can not fit or adopt to the new paradigm
    face serious economic problems.

    Every modern society needs to deal with what is taking place in the
    real world economy , accordingly they need to invest their resources
    toward that end.

    Unfortunately what is taking place now in Europe and elsewhere is not
    only counterproductive but doomed to fail . Finance is a tool to be
    used in the economical scheme , it is not the economy. Notice the amount
    of time wasted discussing , loans , bailouts etc, but very little about
    creating productive output. We can also say the Globalization has created
    more problems than it has solved, it has worked to increase the wealth
    of the chief globalists , at the expense of those not in that category. In
    addition to this it has had the effect of destabilizing the economies of
    of states that are not participating or could.

    S. Demopoulos

  37. Hi Yanis,

    Just read through your blog post on Valve Economics titled “IT ALL BEGAN WITH A STRANGE EMAIL”. While of course it was an exicitng article I enjoy reading, as a researcher in the field of computerised Astronomy, I would like to remind you the distinction between Astronomy, as a hard science, and Astrology, which you might actually wanna referred to. Just FYI.

  38. κ. Βαρουφάκη,
    σας παρακολουθώ με ενδιαφέρον. Γιατί όμως γράφετε το Γιάννης με ένα ν;

  39. Iannis Kotsiopoulos May 17, 2012 at 21:38 #


    Αγαπητέ Γιάννη (εγώ το γράφω με 2ν!)

    Παρακολουθώ τις απόψεις σου σε τακτικότατη βάση και μόλις τελείωσα το βιβλίο σου για τον Μινώταυρο. Σήμερα λοιπόν (17/5) από τις 20:00-21:00 άκουσα ένα πρόγραμμα στον “Ράδιο 9″ με τη συμμετοχή 2 οικονομολόγων, ο ένας μάλιστα αναπληρωτής καθ. στο πανεπιστήμιο Πειραιώς. Οι απόψεις ήταν λίγο ως πολύ οι γνωστές κατεστημένες: φταίμε εμείς, οι δανειστές θέλουν να πάρουν τα λεφτά τους, καλοί άνθρωποι κατά τα άλλα. Θεώρησα λοιπόν υποχρεώσή μου να παρέμβω στο πρόγραμμα με τις …δικές σου απόψεις. Τα κατάφερα τελικά. Τους είπα λοιπόν στον αέρα ότι δεν άκουσα καμιά αναφορά στις απόψεις του καθ. Βαρουφάκη, ο οποίος έχει και διεθνή φήμη, σχετικά με το ότι το Ελληνικό πρόβλημα οφείλεται πολύ περισότερο στη στραβή δομή του ευρώ με την έλλειψη μηχανισμού ανακύκλωσης πλεονασμάτων παρά στην κακή Ελλάδα. Σε αυτό προσέθεσα και κάτι δικό μου: ότι θα πρέπει να θεωρήσουμε τα Ελληνικά μνημόνια όχι ως δανειακές διευκολύνσεις με τις οποίες ένας δανειστής κοιτάει πως θα πάρει τα λεφτά του, αλλά ως συνειδητή απόπειρα της Γερμανικής ελίτ να οδηγήσει τη χώρα όσο γρηγορότερα γίνεται στην ύφεση ώστε να αγοράσει το οικόπεδο φτηνά και τους σκλαβους τζάμπα.

    Οι απάντήσεις ήταν μάλλον χλιαρές, κατά τη γνώμη μου, αλλά το ενδιαφέρον ήταν ότι ο συνάδελφός σου είχε μια περίεργη αντιμετώπιση: το πρώτο που μου είπε σαν απάντηση ήταν ότι “ο κ. Βαρουφάκης είναι ειδικός στη θεωρία παιγνίων και όχι οικονομολόγος, έχει πει όμως ενδιαφέροντα πράγματα, όσο δε για τη διεθνή φήμη, υπάρχουν και άλλοι οικονομολόγοι όπως ο Νομπελίστας κ. Πισσαρίδης …. και άλλα άνευ ουσίας.
    Επειδή έχω ζήσει για λίγο το πανεπιστημιακό κλίμα και το σιχάθηκα (ΕΜΠ-Manchester-Imperial College-Πολυτ. Κρήτης) σκέφτηκα ότι θα ήθελες να ξέρεις για το περιστατικό.

    Για την ιστορία και εγώ ξεκίνησα για μηχανικός και βγήκα σχεδόν μαθηματικός όταν το PhD σύστημα (Imperial College) τελείωσε μαζί μου …

    Φίλε Γιάννη, καλή τύχη στην ξενιτειά, προσπαθώ και εγώ να αποχωρήσω από την Ελλάδα, χωρίς όμως επιτυχία προς το παρόν.


    Γιάννης Κωτσιόπουλος

  40. Dear Yani
    I am glad to have found your blog and congratulations on your achievements.
    You have an interesting story to tell and your views are interesting and refreshing to say the least. Many of us watching the Greek crisis unravel from afar, are distressed and saddened to see what has become of our beloved ancestral home Greece, a country having endured so much in recent and not so recent history and to now find itself again, at the edge of financial and perhaps social catastrophe with little hope or prospects in sight. The austerity program is just financial madness and counter-intuitive in terms of driving the economy from recession.
    I have a background in economics and I don’t hold myself out as an economist, I find the debate and analysis interesting. I can’t help but wonder at times, are we simply trying to re-arrange the deck chairs on the proverbial titanic when tackling the Greek crisis, as the problem in Greece may be more symptomatic of larger failings of the global financial and economic system which some say has been living beyond its means on a binge of cheap credit for too long, which is now coming home to roost.
    We have seen the US economy collapse together with many of its manufacturing and Europe suffering high youth unemployment for many years even before the GFC. The whispers from China are that the Chinese have also been binging on credit and have been cooking their figures for a while despite their favourable terms of trade and that a Japanese style (ala late 1980s) asset collapse is brewing there.
    Have the western economies and perhaps some Asian ones too, just been living beyond their means for too long and is Greece just the proverbial canary in the mine shaft that has keeled over?

  41. Γεια σου Γιάννη,

    Σε παρακολουθούμε ανελιπώς (το κατα δύναμη) ανάμεσα στη δίνη της παραπληροφόρησης.
    Έχει αναφερθεί μια ανεπάρκεια της Ελληνικής γλώσσας για τη διάκριση μεταξύ default και bankruptcy. Ισχύουν τα παρακάτω, και αν όχι ποιά είναι η διαφορά?
    default = στάση πληρωμών
    bankruptcy = χρεωκοπία

    Ευχαριστώ. Συνέχισε δυναμικά.

  42. All European nations with the notable exception of Germany are bankrupt.
    During the deep recession of the 70’s and early 80’s, when Thatcher was in power, the UK had assets to sell – utilities, airlines, public housing. This generated wealth and balanced the deficit. Now, we don’t have anything to sell, so it doesn’t take a rocket scientist to figure out why they are printing money (QE) to balance things out.
    My advice to the Greeks, you will always be Europeans but don’t necessarily have to be part of the Euro-zone like us Brits.

    • Precisely what I predicted in late 1980s and early 1990s would happen in New Zealand when the Fourth Labour adminstration, urged on by its Minister of Finance, Roger Douglas, and the following National Government (MoF Ruth Richardson) began the process of flogging off State assets. It turned out in many cases the money vainshed at the end of the financial year, when the purshasers of these assets claimed the costs of their purshases as a tax rebate.

      Ever since I have regarded the Milton Friedmanite economics that motivated the likes of Douglas, Richardson, Thatcher and countless other rapacious politicians and business pirates as Licence to Loot the Commonweal.

  43. It may be the path to a re-birth though it needs to be harnessed and led towards a different sort of governance and government.
    Greece could be the cradle for that.
    That goes well beyond a branding campaign as some have been calling for.

    People need to be engaged and evolve their roles in society beyond ‘someone looking after them’ or just what’s in it for them. Accountability is a gaping hole as has been evidenced.

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