The Econoclasts

This week on The Econoclasts, Yanis Varoufakis and Wolfgang Munchau debunk two more establishment orthodoxies. First, Yanis challenges the widespread belief that China is actively trying to dethrone the US dollar as the world's reserve currency, arguing that while Beijing wants independence from US sanction power, it is strongly opposed to the idea of taking on the burden of the reserve currency. And second, Wolfgang debunks the "cordon sanitaire", or "firewall" orthodoxy that European centrist parties must never form coalitions with the far-Right, exposing how this failed tactic forces centrists into permanent coalitions that deliver only stagnation and ultimately guarantees the rise of far-Right parties

In this first episode of The Econoclasts, Yanis Varoufakis and Wolfgang Munchau debunk two failed economic orthodoxies shaping our world. First, they dismantle the narrative that Europe is helping Ukraine - and striking a powerful blow against Russia - by raiding Russia’s frozen assets. More than this being legally questionable, is it also economically and geopolitically self-defeating? Next, they expose the "battle" between central banks and anti-establishment crypto rebels as a false choice, revealing it as a dangerous illusion that serves the powerful. Far from being revolutionary, are stablecoins turbo-charging financial instability for the next global crash?

The Econoclasts is a new podcast from UnHerd hosted by economist Yanis Varoufakis and journalist Wolfgang Munchau. While they don't always agree politically, they are united in one conviction: the consensus is rotten. Mainstream economics has consistently failed to predict the events that shape our world, yet this broken orthodoxy still dominates policy and media. Each week, they choose two pillars of the established orthodoxy — the "settled facts" — and shatter them, cutting through the spin to connect the dots between money, geopolitics, and the real forces shaping our future.Don't forget to rate, like and subscribe wherever you get your podcasts.

This week, Tom and Helen follow on from the previous episode by analysing Donald Trump's response to the multipolar world and its implications, especially for Europe. They dive into Trump's clear actions towards Russia, the complications with China, the broader strategic shifts, European interests, NATO's current state, and rising geopolitical tensions involving Turkey.

In this week's episode, Tom and Helen zoom out to look at the wider geopolitical world order coming into being in the midst of Donald Trump's second term, and whether American acceptance of a multipolar world is the key thread in Trump's geopolitical ambitions.

This week, Tom and Helen discuss the growing American debt crisis and whether Donald Trump's bold political moves can be understood as a response to this escalating financial challenge.

This week, Tom and Helen discuss the growing focus on the US-Ukraine minerals deal and its potential impact on intelligence sharing and arms supplies. They also explore whether the war in Ukraine has evolved into a battle over resources amid rising global geopolitical tensions.

This week, Tom and Helen discuss the recent whirlwind of political events: Keir Starmer's meeting with Donald Trump after announcing a boost in British defense spending, Volodymyr Zelensky’s fiery Oval Office press conference, and European leaders’ efforts to draft a peace plan for presentation to the U.S.

This week, Tom and Helen discuss the aftermath of Germany's election, where the Christian Democrats won but with their second-lowest vote tally ever. They explore what these results mean for the future of European politics and the shifting dynamics of Europe’s relationship with the United States.