The Global Minotaur: America, Europe and the Future of the World Economy
In this remarkable and provocative book, Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the root causes of the global economic crisis. Rather, they are symptoms of a much deeper malaise which can be traced all the way back to the Great Crash of 1929, then on through to the 1970s: the time when a 'Global Minotaur' was born. Just as the Athenians maintained a steady flow of tributes to the Cretan beast, so the 'rest of the world' began sending incredible amounts of capital to America and Wall Street. Thus, the Global Minotaur became the 'engine' that pulled the world economy from the early 1980s to 2008.

Today's crisis in Europe, the heated debates about austerity versus further fiscal stimuli in the US, the clash between China's authorities and the Obama administration on exchange rates are the inevitable symptoms of the weakening Minotaur; of a global 'system' which is now as unsustainable as it is imbalanced. Going beyond this, Varoufakis lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order.

An essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.

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The Global Minotaur: America, Europe and the Future of the World Economy
In this remarkable and provocative book, Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the root causes of the global economic crisis. Rather, they are symptoms of a much deeper malaise which can be traced all the way back to the Great Crash of 1929, then on through to the 1970s: the time when a 'Global Minotaur' was born. Just as the Athenians maintained a steady flow of tributes to the Cretan beast, so the 'rest of the world' began sending incredible amounts of capital to America and Wall Street. Thus, the Global Minotaur became the 'engine' that pulled the world economy from the early 1980s to 2008.

Today's crisis in Europe, the heated debates about austerity versus further fiscal stimuli in the US, the clash between China's authorities and the Obama administration on exchange rates are the inevitable symptoms of the weakening Minotaur; of a global 'system' which is now as unsustainable as it is imbalanced. Going beyond this, Varoufakis lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order.

An essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.

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The Global Minotaur: America, Europe and the Future of the World Economy

The Global Minotaur: America, Europe and the Future of the World Economy

The Global Minotaur: America, Europe and the Future of the World Economy

The Global Minotaur: America, Europe and the Future of the World Economy

Hardcover

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Overview

In this remarkable and provocative book, Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the root causes of the global economic crisis. Rather, they are symptoms of a much deeper malaise which can be traced all the way back to the Great Crash of 1929, then on through to the 1970s: the time when a 'Global Minotaur' was born. Just as the Athenians maintained a steady flow of tributes to the Cretan beast, so the 'rest of the world' began sending incredible amounts of capital to America and Wall Street. Thus, the Global Minotaur became the 'engine' that pulled the world economy from the early 1980s to 2008.

Today's crisis in Europe, the heated debates about austerity versus further fiscal stimuli in the US, the clash between China's authorities and the Obama administration on exchange rates are the inevitable symptoms of the weakening Minotaur; of a global 'system' which is now as unsustainable as it is imbalanced. Going beyond this, Varoufakis lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order.

An essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.


Product Details

ISBN-13: 9781780320151
Publisher: Bloomsbury Academic
Publication date: 08/01/2011
Series: Economic Controversies
Pages: 264
Product dimensions: 5.50(w) x 8.50(h) x 1.00(d)

About the Author

Yanis Varoufakis is the former finance minister of Greece and the co-founder of an international grassroots movement, DiEM25, campaigning for the revival of democracy in Europe. He is the author of And the Weak Suffer What They Must? and The Global Minotaur. After many years teaching in the United States, Britain, and Australia, he is currently professor of economics at the University of Athens.

Paul Mason is a British commentator and radio personality. He was Culture and Digital Editor of Channel 4 News, becoming the programme's Economics Editor on 1 June 2014, a post he formerly held on BBC Two's Newsnight programme. He is the author of several books, and a Visiting Professor at the University of Wolverhampton, UK.

Table of Contents

1. Introduction
2. Laboratories of the future
3. The Global Plan
4. The Global Minotaur
5. The Beast's Handmaidens
6. Crash
7. The Handmaidens Strike Back
8. The Minotaur's Global Legacy: The Dimming Sun, the Wounded Tigers, a Flighty Europa and an Anxious Dragon
9. A future without the Minotaur?

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