The financial meltdown of 2008 prompted calls for a global financial system that curtails trade imbalances, moderates speculative capital flows, and prevents systemic contagion. That, of course, was the goal of the original Bretton Woods system. But such a system today would be both untenable and undesirable. So, what might an alternative look like? Continue reading
Category Archives: The Global Minotaur: A theory of the Global Crisis
The Origins of the European & Global Economic Crisis – on acTVism Munich
Refugees, Europe & the Australian Economy – Q&A debate, ABC tv, 23 NOV 2015
Q&A ABC tv Episode 43 – 23/11/2015
23 November 2015
Panellists:
- Yanis Varoufakis, Former finance minister of Greece
- Greg Hunt, Australia’s Minister for the Environment
- Geraldine Brooks, Author and journalist
- Anthony Albanese, Australia’s Shadow Infrastructure Minister
- Judith Sloan, Businesswoman, Academic and Columnist
- Tasneem Chopra, Chair, Australian Muslim Women’s Centre for Human Rights.
Creditors Uninterested in Getting Their Money Back – at the University of Sydney, 26/11/2015
THE GUARDIAN: Australia is a ‘plaything’ of world economic forces it cannot control
Click here for the Guardian site)
Australia is a “plaything” of forces it cannot control as the world economy heads into another phase of the global financial crisis, according to the former Greek finance minister Yanis Varoufakis. Continue reading
Europe’s challenges in a global context – Interview with Dirk Pohlmann, KenFM
This Friday, in London: Toward a New Politics for Europe – with Paul Mason
What happened in China? In a few words, from The Global Minotaur 2011,2013
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«La Grèce peut forcer l’Europe à changer» – La Tribune
![Yannis Varoufakis Syriza's candidate for the elections of January 25 in Greece.](http://web.archive.org./web/20160528163124im_/https://i0.wp.com/static.latribune.fr/article_page/437683/yannis-varoufakis.jpg)
The world economy post-2008 – Interviewed by the Institute of Regulation & Risk
Since the demise of Lehman Brothers in September 2008 and ensuing great financial crisis (GFC), it would seem rather obscenely that central bankers and monetary policy has been obsessed with “deflation”, rather than remedying the actual causes of the crisis itself. Is this a fair analysis?
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How the US rolls (post-Global Minotaur) – by SLAVOJ ŽIŽEK
In this article, aptly subtitled It’s lonely being the global policeman, Slavoj evokes a parallelism between the age of extremes that began as the British Empire was losing its grip with the present moment in history. Now that the Global Minotaur (quoting my book) is mortally wounded, “…the American century is over and we are witnessing the gradual formation of multiple centers of global capitalism”.
Zizek’s verdict? Faced with increasing uncertainty and mounting insecurity, “…the solution is not to be very careful and avoid risky acts—in acting like this, we fully participate in the logic which leads to catastrophe. The solution is to fully become aware of the explosive set of interconnections that makes the entire situation dangerous. Once we do this, we should embark on the long and difficult work of changing the coordinates of the entire situation. Nothing less will do.” Hear, hear!
To read the full article click here or read on… Continue reading
Preface to the (forthcoming) French edition of THE GLOBAL MINOTAUR
The Global Minotaur: America, Europe and the future of the world economy is about to be published in French, as Le Minotaure Planétaire, by newly established, progressive publishing house LES ÉDITIONS DU CERCLE. Read on for a draft of the Preface I composed for this French edition (which is now added to the German, Spanish, Italian, Czech, Finnish and Greek editions)… [for the translation in French, click here] Continue reading
Egalitarianism’s Latest Foe: a critical review of Thomas Piketty’s Capital in the Twenty-First Century
The Real-World Economics Review commissioned a number of us to write critical reviews of Thomas Piketty’s Capital in the 21st Century. They include, beside the over-signed, David Colander, Edward Fullbrook (who must be credited for the whole issue), James K. Galbraith, Michael Hudson, Richard Koo, Richard Parker, Ann Pettifor, and Robert Wade – see below for links to their papers.
My own contribution is entitled Egalitarianism’s Latest Foe: a critical review of Thomas Piketty’s Capital in the Twenty-First Century. (A Spanish translation is also available here.) Read on for the links to all 16 articles…
The Global and European Crisis revisited: An audio from the launch of the Global Minotaur in Finland
On 25th August, I had the honour of presenting the Finnish edition of The Global Minotaur to a splendid, and welcoming, audience at the University of Tampere. In this post you can listen to an interesting exchange on the state of the global and European economy, why Finns (along with citizens of other European ‘surplus’ member-states – but even more so than most others) ought to be very, very angry with their politicians (over the bailouts and overall handling of the Euro Crisis), on China’s future role etc. Continue reading
The Global Minotaur out now in Finnish
It is with great pleasure that I received the news from Finland that my Global Minotaur: America, Europe and the Future of the World Economy has just been published in Finland by the good people of Vastapaino Publishers. (Click here for their site.)
My Preface to this Finnish edition follows: Continue reading
Discussing Austerity with Phillip Adams, on Late Night Live, ABC Radio National
In this podcast you can hear my discussion with Phillip Adams, on ABC Radio National Late Night Live, on fiscal austerity and its discontents. The backdrop for this interview was, naturally, the Australian Federal Government’s attempts to ‘sell’ its latest Austerity Budget to the Australian people. (Click also here for my OpEd on ‘Austerity comes to Australia’, that appeared on the ABC’s White Paper e’magazine.)
Austerity comes to Australia – OpEd, WHITE PAPER, ABC Radio National
Following the passing of an Austerity Budget by the Australian Federal Government, the editors of White Paper (ABC Radio National’s online magazine) commissioned me to write an OpEd on what lessons Australia should learn from the implementation of similar austerian fiscal policies in Britain and the Eurozone.
You can read my article by clicking here, or simply by reading on…
Preface to the Finnish edition of the Global Minotaur
Finland, like my homeland, Greece, is a small country at a treacherous geopolitical crossroads that traditionally inspired great anxiety amongst its people, but also instilled into their character considerable resilience. Unlike Greece, from the mid-1990s until fairly recently Finland succeeded in turning itself into a net exporting nation, ostensibly capable of powering its way into the ‘core’ of Europe’s monetary union. So, when in 2010 my country sank in a sea of debt, Finland ended up as one of the countries that, reluctantly, guaranteed the gigantic loans afforded to countries like Greece. Soon after, Finland fell into the second ‘dip’ of its post-2008 recession, where it still languishes today. Continue reading
A Review of the Global Minotaur (2nd edition) from an Australian perspective; by Paul Tyson
Is there Life After Money? A Summary, with comments, of Yanis Varoufakis’ The Global Minotaur: America, Europe and the future of the world economy, Zed Books
By Dr Paul Tyson, Honorary Associate Professor, Department of Theology and Religious Studies, University of Nottingham.
[Note that the cover displayed here is of the German edition. Click here for the main page on the book.] Continue reading