Financial and business news from Bulgaria

Yanis Varoufakis has crossed out capitalism and announced a new economics from which everyone will earn

Capitalism doesn't work. This was stated by former Greek Finance Minister Yanis Varoufakis, the world news agencies report. The Greek representative is known for his economic analyses. His new material offers an alternative.
/* (c) Adocean 2003-2018, news.Blitz.bg Article In Text */

ado.slave ('adoceanblitzbgvppmqmhred', {myMaster: '32krqyjgbc4z5Sigp3zu1zeyf3dx9g_PSWM02Cjdcel.s7'}); It is acknowledged that leftist representatives wander between Soviet socialism and moderate social democracy. His view is that globalisation makes the latter difficult to achieve.

Referring to a former policy of Marguret Thatcher. Varoufakis admits he didn't like her model but recognised her influence as a leader and understanding of finding a new programme.

According to him, it is important to have a work plan for democratic socialism. He has received support from his partner Danae Starto and Ireland's Finance Minister Pascal Donohue.

According to him, the separation of capitalism from the economy is observed. It is recalled that everywhere the state pays the bills of big business.

Market socialism cannot afford to include the labour market, because when labor time has a market price, the market mechanism begins to occupy every aspect of the work.

The idea of each employee being an equal partner is indicated. Central banks can provide every adult with a free bank account in which a fixed scholarship is given each month.

Most people use the central bank for their payments, most of the money it has printed is transferred back to it. Thus, people will receive two types of income, the dividend from the bank and the pay from their work.

The government will be financed through two types of tax, such as on corpo-unionist firms and on leasing land.

International trade will be conducted through a new type of digital currency. If the value of the country's export currency exceeds that of imports, it will receive an account in the amount of the difference. The same goes for the opposite.

This restricts speculating monetary movements that harm developing countries. When employees become partners and get the right to vote in corporations, the wage and profit gap is eliminated and democracy begins to act.

Thus conglomerates will be broken into small companies and will revive market competition. Thus, the shares will no longer be traded, and with that, there will be no need for a large debt.

New ideas will be proposed in a new book. It will be proposed on summarized presentions.

Related news