The politics of negative interest rates

Yanis Varoufakis explores the strange new world where money is intrinsically worthless and how the solution to tackling this must come from a change in definition for currencies.

The politics of negative interest rates

OBJECTS of desire come at a cost. Only bad things, like toxic waste, have a negative price, the equivalent of a fee payable to anyone willing to make them disappear.

Does this mean that negative interest rates embody a new perspective on money — that it has gone ā€œbadā€?

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