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The Global Minotaur

Yanis Varoufakis


  • Hardcover
    $183.70
PUBLISHED: 18th August 2011
ISBN: 9781780320151
ANNOTATION:
Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the causes of the global economic crisis.
The Global Minotaur
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OTHER FORMATS:
  • Hardcover
    $183.70
PUBLISHED: 18th August 2011
ISBN: 9781780320151
ANNOTATION:
Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the causes of the global economic crisis.

Annotation

Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the causes of the global economic crisis.

Publisher Description

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.

Author Biography

Yanis Varoufakis is Professor of Economic Theory, Director of the Department of Political Economy within the Faculty of Economic Sciences of the University of Athens.

Table of Contents

1. Introduction2. Laboratories of the future3. The Global Plan4. The Global Minotaur5. The Beast's Handmaidens6. Crash7. The Handmaidens Strike Back8. The Minotaur's Global Legacy: The Dimming Sun, the Wounded Tigers, a Flighty Europa and an Anxious Dragon*9. A future without the Minotaur?

Review

'Yanis is one of the best, brightest and most innovative economists on the planet' - Steve Keen, author of Debunking Economics

Long Description

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.

Review Quote

'The emerging rock-star of Europe's anti-austerity uprising'Daily Telegraph'His argument has an ambitious sweep.'The Times'This trenchant and readable critique sets the eurozone crisis within a much longer context.' London Evening Standard'A spirited book.' New Yorker'The book is one of those exceedingly rare publications of which one can say they are urgent, timely and absolutely necessary.'Terry Eagleton'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.'Aditya Chakrabortty, Guardian lead economics writer'Yanis is one of the best, brightest and most innovative economists on the planet.'Steve Keen, author of Debunking Economics'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'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.'Gary Dymski, University of California, Riverside'If you want to know how serious the current crisis is, you should read this book. With much eloquence, Yanis Varoufakis argues that the current financial problems are connected to the emerging fault lines of the international monetary system.'Shaun Hargreaves-Heap, University of East Anglia

Product Details

Author
Yanis Varoufakis
Publisher
Zed Books Ltd
Year
2011
ISBN-10
1780320159
ISBN-13
9781780320151
Format
Hardcover
Publication Date
2011-08-18
Subtitle
America, the True Origins of the Financial Crisis and the Future of the World Economy
Country of Publication
United Kingdom
Short Title
GLOBAL MINOTAUR
Series
Economic Controversies
Language
English
Media
Book
Residence
AT
Pages
264
Audience
General/Trade