The End of the Neoliberal Era – Prof. James Galbraith

In this lecture, economist James K. Galbraith explains why neoliberal economic policy is reaching its limits. Starting from the Greek crisis, the role of the Troika, and Yanis Varoufakis’ 2015 negotiations, he shows how an economic doctrine that presented itself as without alternative helped justify social hardship, political hierarchy, and democratic powerlessness.

But Galbraith does not stop with Europe. From Thorstein Veblen, Keynes, and Minsky to Entropy Economics, he asks why mainstream economics failed to explain the rise of China, Russia’s adaptation to sanctions, Iran’s strategic role, technofeudalism, and the emergence of a multipolar world. His thesis: anyone who wants to understand the new world must leave behind the old certainties of neoliberalism.

This video was produced by DiEM25 and published on their YouTube channel on the 10th of June, 2026. We have translated it into German and are republishing it today to help build opinion on this issue in Germany and beyond.

To read the transcript of this video: The End of the Neoliberal Era – Prof. James Galbraith

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VIDEO: The End of the Neoliberal Era – Prof. James Galbraith

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ABOUT PROF. JAMES K. GALBRAITH

James K. Galbraith is an economist, author, and professor at the University of Texas at Austin. He holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the LBJ School of Public Affairs and is Professor of Government. Galbraith earned his PhD in economics from Yale University and served in the early 1980s as Executive Director of the Joint Economic Committee of the U.S. Congress. His work focuses on inequality, economic policy, financial crises, critiques of mainstream economics, and the political economy of a multipolar world. He also directs the University of Texas Inequality Project.