9781780324500

Revised and updated, The Global Minotaur, originally published in 2011 is a provocative book, by one of the most dynamic and reasonable of contemporary economists, takes a long view of the global economy and describes how, after the collapse in the 1970s of the post-war economic order, the world began sending incredible amounts of capital to Wall Street - just as the ancient Athenians paid regular tribute to the mythical Cretan Minotaur. It was this flow of money that became the "engine" that pulled the world economy through to the financial collapse of 2008. Europe's crisis today is just one symptom of a global "system" which is now as unsustainable as it is imbalanced. Full of up to the minute commentary on the financial crisis as the unfold, The Global Minotaur is an essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.

Yanis Varoufakis is Director of the University of Athens' Political Economy Division.

"The book is one of those exceedingly rare publications of which one can say they are urgent, timely and absolutely necessary." - Terry Eagleton"Yanis is one of the best, brightest and most innovative economists on the planet" - Steve Keen, author of Debunking Economics"In the most comprehensive guide to the contemporary economic crisis yet written, Yanis Varoufakis traces out the path from post-war US economic supremacy to the current predicament. This book's provocative thesis, written in lively and impassioned prose, is that which neither the US nor the EU nor any other nation can now restore robust global growth. Whether you agree or disagree, this book's lively and impassioned prose will engage you both heart and mind, and hold you in thrall to the last word. The Global Minotaur is a masterwork that registers for all time the challenge of our time." - Prof. Gary Dymski, University of California, Riverside"If you want to know how serious the current crisis is, you should read his book. With much eloquence, Yanis Varoufakis argues that the current financial problems are connected to the emerging fault lines of the international monetary system. The US (the Minotaur) used to govern the international monetary system, but no more; and this crucially means that there is no surplus recycling mechanism that can reliably stabilise the world economy. The elephant in the room, so to speak, is a stumbling Minotaur." - Prof. Shaun Hargreaves-Heap, University of East Anglia"Yanis Varoufakis is a rare economist: skilled at explaining ideas, happy to join in public debates and able to put his discipline in a broader context. You may not agree with what he says, but you'll enjoy the way he says it." -Aditya Chakrabortty, The Guardian"Clearly and strongly written, with logical organization building towards simple conclusions, the book is an easy yet rewarding read ... perhaps should become the standard way we think about the nature of our increasingly dysfunctional world economy." - Joel Campbell, International Affairs Journal

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

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

1780324502

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