The Global Minotaur, Yanis Varoufakis
Yanis Varoufakis

The Global Minotaur

350 štampanih stranica
Financialization, greed, ineffectively regulated banks—all have been blamed for the global economic crisis. In reality, though, these were mere subplots in a much grander, almost mythological, drama—one that can be traced back to the Great Crash of 1929, then on through to the 1970s when, like the Athenians forced to pay tribute to the Cretan beast, the world began financing the “Global Minotaur” of America's budget and trade deficits. Now, from the deepening crisis in Europe to the heated debates about austerity versus further fiscal stimuli in the US, the consequences of the fatally wounded Minotaur are everywhere. Remarkable and provocative, The Global Minotaur gives an essential account of the socio-economic events that have shaped the world as we now know it, and the options available for reintroducing a modicum of reason in our irrational global economic order.
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The certainties that decades of conditioning had led us to acknowledge were, all of a sudden, gone, along with around $40 trillion of equity globally, $14 trillion of household wealth in the US alone, 700,000 US jobs every month,
It is from here that, somewhat guilt-ridden, I peruse the wastelands of my country, every now and then giving the odd interview to various networks that pose the same question over and over again: what should Greece do to extricate itself from its Great Depression? How should Spain or Italy respond to demands that logic tells us will make things worse? The answer I deliver with increasing monotonousness is that there is nothing that our proud countries can do other than to say ‘No!’ to inane policies whose real objective is to deepen the depression for apocryphal reasons that only a close study of the Global Minotaur’s legacy can reveal.
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