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.
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Author: Yanis Varoufakis
The Be’eri book series on social democratic thought offers Hebrew readers the latest publications from Israel and around the world. Its goal is to initiate a public discourse, that in turn, contributes to the renewal and strengthening of social democracy in Israel. The Be’eri books are published by Kibbutz HaMeuhad in cooperation with the FES as part of the "Kav Adom" series.
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