Video/DVD Analysis of Yanis Varoufakis

Video/ DVD Analysis
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Video/ DVD Analysis
Yanis Varoufakis is an economist and politician who served as Greek's finance minister from January to July 2015. In a TED Talk event in Geneva, Varoufakis talks about capitalism and how it is destroying democracy. In his talk, Varoufakis describes the current capitalist system as being composed of two twin peaks (TED, 2016). One peak comprises the debt, which many countries bear, while the other peak comprises the excess capital that the rich and the corporates are keeping and not investing. In his view, for capitalism to work, and in the process, democracy, then the rich and corporate world need to invest their excess capital in projects that benefit the world (TED, 2016).
Auguste Comte coined the term sociology. It is through Comte that individuals such as Emile Durkheim furthered research into human behavior. Comte's views were mainly focused on society, religion, and science. However, one fundamental idea held by Comte was that humans must promote positivism. Given Varoufakis' talk, it is clear that his views on the declining state of capitalism are derived from scientific evidence and data, which reveals how the world works today. Therefore, Comte would have been of the view that capitalism needs to be corrected for there to be a properly functioning economic system. For this to happen, the rich would need to consider investing their excess cash in meaningful ways to aid the global economy.
Emile Durkheim was a follower of Comte. However, Durkheim furthered Comte's work by focusing on capitalism and how it affects human behavior. Durkheim's ...