Book

The global minotaur : America, Europe and the future of the world economy

Varoufakis, Yanis, author, Mason, Paul, 1960- author

Overview

The author explodes the myth that financialization, ineffectual regulation of banks, greed and globalization 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, the author lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order.

• Publisher: Zed Books
• Subject: Global Financial Crisis (2008-2009) / Since 1900 / Economic history 1945- / International finance History 20th century. / International finance History 21st century. / Global Financial Crisis, 2008-2009. / Economic forecasting. / Economic history. / Economic policy. / International economic relations. / International finance. / United States Foreign economic relations. / United States Economic policy. / United States.
• ISBN: 9781783606108, 178360610X

Item info:

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Holdings :

Call Number	Copies	Material	Location
HC59.V36 2015	1	BOOK	BUSINESS