The Global Minotaur

America, Europe and the Future of the Global Economy

Yanis Varoufakis

The Global Minotaur

Yanis Varoufakis

Distributed for Zed Books

With a Foreword by Paul Mason
304 pages | 5 x 9 | © 2015
Paper $12.95 ISBN: 9781783606108 Published July 2015 For sale in North and South America (except Canada), Australia, and New Zealand
In this provocative book, Yanis Varoufakis—the fiery former finance minister in Greek’s new Syriza-led government—explodes the myth that financialization, ineffective regulation of banks, and generalized greed and globalization were the root causes of the global economic crisis. Rather, he shows, they are symptoms of a much deeper malaise, one that can be traced all the way back to the Great Depression, then through the stagflation of the 1970s, when a “Global Minotaur” was born. Today’s deepening crisis in Europe, Varoufakis shows, is just one of the inevitable signs of the weakening Minotaur—of a global system that is now as unsustainable as it is unbalanced. Rather than simply diagnose a problem, however, Varoufakis also offers a solution, a program for introducing reason into what has become a perniciously irrational economic order.

An essential, powerfully polemical account of the hidden histories that continue to shape our world and economy today, this book from a major player on the stage of world finance, and with a new introduction by Paul Mason, will be essential reading for economists, policy makers, and regular citizens alike.
Contents
Foreword by Paul Mason
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?
Review Quotes
Daily Telegraph
"The emerging rock-star of Europe's anti-austerity uprising."
Terry Eagleton
"The book is one of those exceedingly rare publications of which one can say they are urgent, timely and absolutely necessary."
Aditya Chakrabortty, Guardian
"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."
Steve Keen, author of Debunking Economics
"Yanis is one of the best, brightest and most innovative economists on the planet."
Joel Campbell, International Affairs
"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."
Gary Dymski, University of California, Riverside
"In the most comprehensive guide to the contemporary economic crisis yet written, 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 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."
Shaun Hargreaves-Heap, University of East Anglia
"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."
For more information, or to order this book, please visit http://www.press.uchicago.edu
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